Kathryn Fahy Sells 10,000 Shares of Hennessy Advisors (NASDAQ:HNNA) Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) CFO Kathryn Fahy sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the chief financial officer directly owned 60,689 shares in the company, valued at approximately $606,890. The trade was a 14.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hennessy Advisors Trading Down 3.2%

Shares of Hennessy Advisors stock opened at $9.86 on Thursday. The company has a fifty day simple moving average of $9.84 and a 200-day simple moving average of $9.90. The stock has a market cap of $77.89 million, a price-to-earnings ratio of 9.39 and a beta of 0.59. Hennessy Advisors, Inc. has a 12-month low of $8.90 and a 12-month high of $13.19.

Hennessy Advisors (NASDAQ:HNNA) last announced its quarterly earnings results on Wednesday, May 6th. The asset manager reported $0.24 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.09). Hennessy Advisors had a return on equity of 8.53% and a net margin of 25.40%.The company had revenue of $8.13 million for the quarter, compared to analyst estimates of $9.61 million.

Hennessy Advisors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.1%. Hennessy Advisors’s payout ratio is 57.14%.

Institutional Trading of Hennessy Advisors

Several institutional investors and hedge funds have recently bought and sold shares of HNNA. Geode Capital Management LLC boosted its stake in Hennessy Advisors by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock worth $654,000 after purchasing an additional 1,014 shares during the period. Bridgeway Capital Management LLC increased its stake in Hennessy Advisors by 6.7% in the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock valued at $215,000 after purchasing an additional 1,072 shares during the period. Evergreen Capital Management LLC acquired a new position in Hennessy Advisors in the second quarter valued at $190,000. Navellier & Associates Inc. raised its holdings in shares of Hennessy Advisors by 72.2% in the third quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock valued at $770,000 after buying an additional 30,889 shares during the last quarter. Finally, Truffle Hound Capital LLC raised its holdings in shares of Hennessy Advisors by 241.8% in the third quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock valued at $1,576,000 after buying an additional 106,726 shares during the last quarter. Hedge funds and other institutional investors own 10.31% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hennessy Advisors in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.