Hennessy Advisors, Inc. (HNNA) To Go Ex-Dividend on November 10th

Hennessy Advisors, Inc. (NASDAQ:HNNA) announced a quarterly dividend on Wednesday, October 28th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.15 per share by the asset manager on Wednesday, November 25th. This represents a $0.60 annualized dividend and a yield of 5.9%. The ex-dividend date is Tuesday, November 10th.

Hennessy Advisors Price Performance

Shares of NASDAQ:HNNA opened at $10.19 on Friday. The business’s fifty day moving average price is $10.27 and its two-hundred day moving average price is $10.05. Hennessy Advisors has a fifty-two week low of $9.20 and a fifty-two week high of $10.89. The stock has a market capitalization of $80.54 million, a price-to-earnings ratio of 9.80 and a beta of 0.48.

Hennessy Advisors (NASDAQ:HNNA) last issued its earnings results on Wednesday, August 5th. The asset manager reported $0.25 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.12). The firm had revenue of $8.39 million during the quarter, compared to analyst estimates of $9.96 million. Hennessy Advisors had a net margin of 24.77% and a return on equity of 8.31%.

Insider Transactions at Hennessy Advisors

In other Hennessy Advisors news, VP Daniel Steadman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $10.26, for a total value of $51,300.00. Following the transaction, the vice president directly owned 37,768 shares of the company’s stock, valued at approximately $387,499.68. This trade represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 8,171 shares of company stock valued at $83,573 over the last quarter. 36.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Next Level Wealth Planning LLC bought a new position in shares of Hennessy Advisors in the 3rd quarter worth $26,000. Empowered Funds LLC increased its holdings in Hennessy Advisors by 13.8% in the first quarter. Empowered Funds LLC now owns 15,011 shares of the asset manager’s stock valued at $146,000 after purchasing an additional 1,819 shares during the last quarter. Bank of America Corp DE bought a new stake in Hennessy Advisors in the second quarter valued at about $154,000. Net Worth Advisory Group lifted its stake in Hennessy Advisors by 51.6% in the third quarter. Net Worth Advisory Group now owns 18,453 shares of the asset manager’s stock valued at $192,000 after buying an additional 6,280 shares during the period. Finally, BlackRock Inc. acquired a new position in Hennessy Advisors in the second quarter valued at about $201,000. Institutional investors and hedge funds own 10.31% of the company’s stock.

About Hennessy Advisors

Hennessy Advisors, Inc is an investment management company that provides portfolio management, investment advisory and related services. Through its Hennessy Funds business, the company offers a range of investment products designed for individual investors, financial professionals and institutions.

The company’s offerings have included actively managed mutual funds and exchange-traded funds covering equities, fixed income and specialized investment strategies. Its portfolios may focus on areas such as large- and small-capitalization companies, financial services, technology, utilities, international markets and other targeted segments.