Daniel B. Steadman Sells 10,000 Shares of Hennessy Advisors Inc (HNNA) Stock
Hennessy Advisors Inc (NASDAQ:HNNA) EVP Daniel B. Steadman sold 10,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $16.90, for a total value of $169,000.00. Following the sale, the executive vice president now owns 58,460 shares in the company, valued at $987,974. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Hennessy Advisors Inc (NASDAQ:HNNA) traded up $0.23 during midday trading on Thursday, reaching $15.73. The company had a trading volume of 10,400 shares, compared to its average volume of 14,051. The company has a market cap of $120.95, a price-to-earnings ratio of 8.19 and a beta of 1.27. Hennessy Advisors Inc has a 1-year low of $13.88 and a 1-year high of $21.61. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.84 and a current ratio of 1.84.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.91%. The ex-dividend date was Tuesday, November 14th. Hennessy Advisors’s dividend payout ratio is 15.85%.
Large investors have recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc acquired a new position in Hennessy Advisors during the 2nd quarter worth $110,000. Citigroup Inc. lifted its holdings in Hennessy Advisors by 55.9% during the 2nd quarter. Citigroup Inc. now owns 8,113 shares of the asset manager’s stock worth $123,000 after buying an additional 2,909 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Hennessy Advisors in the 2nd quarter valued at $181,000. Dimensional Fund Advisors LP lifted its stake in shares of Hennessy Advisors by 65.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 34,197 shares of the asset manager’s stock valued at $528,000 after purchasing an additional 13,475 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Hennessy Advisors by 6,898.3% in the 2nd quarter. Legal & General Group Plc now owns 48,988 shares of the asset manager’s stock valued at $744,000 after purchasing an additional 48,288 shares during the period. 15.25% of the stock is currently owned by hedge funds and other institutional investors.
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About Hennessy Advisors
Hennessy Advisors, Inc is an investment management company. The Company’s business activity is managing, servicing and marketing open-end mutual funds branded as the Hennessy Funds. It provides investment advisory services and shareholder services to the Hennessy Funds. Its investment advisory services include managing the composition of each fund’s portfolio, including the purchase, retention and disposition of portfolio securities in accordance with the Fund’s investment objectives, policies and restrictions; conducting investment research, and monitoring compliance with each fund’s investment restrictions and applicable laws and regulations.
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