Key Points
- Director Thomas Seavey sold 1,875 Hennessy Advisors shares at an average price of $10.15, generating $19,031.25 and reducing his holdings by 3.04% to 59,754 shares.
- Hennessy Advisors reported weaker-than-expected quarterly results, with EPS of $0.25 versus the $0.37 consensus estimate and revenue of $8.39 million versus $9.96 million expected.
- The company pays a quarterly dividend of $0.15 per share, equivalent to $0.60 annually and a 6.0% yield; analysts maintain a consensus “Hold” rating.
Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) Director Thomas Seavey sold 1,875 shares of the business's stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $10.15, for a total transaction of $19,031.25. Following the completion of the sale, the director owned 59,754 shares in the company, valued at approximately $606,503.10. The trade was a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Hennessy Advisors Stock Down 1.5%
HNNA opened at $10.03 on Tuesday. The company has a market capitalization of $79.24 million, a PE ratio of 9.64 and a beta of 0.58. The firm has a 50-day simple moving average of $10.06 and a two-hundred day simple moving average of $9.99. Hennessy Advisors, Inc. has a 52 week low of $8.90 and a 52 week high of $11.02.
Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last issued its earnings results on Wednesday, August 5th. The asset manager reported $0.25 earnings per share (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 the consensus estimate of $9.96 million. Hennessy Advisors had a return on equity of 8.31% and a net margin of 24.77%.
Hennessy Advisors Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.60 dividend on an annualized basis and a yield of 6.0%. Hennessy Advisors's dividend payout ratio is presently 57.69%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hennessy Advisors in a report on Tuesday, September 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold".
View Our Latest Research Report on HNNA
Institutional Investors Weigh In On Hennessy Advisors
Several institutional investors have recently made changes to their positions in HNNA. Allworth Financial LP purchased a new position in shares of Hennessy Advisors during the 2nd quarter worth about $826,000. Perigon Wealth Management LLC bought a new position in Hennessy Advisors during the 2nd quarter valued at about $648,000. Aegis Financial Corp raised its position in Hennessy Advisors by 20.8% in the 2nd quarter. Aegis Financial Corp now owns 170,768 shares of the asset manager's stock worth $1,733,000 after purchasing an additional 29,415 shares during the period. BlackRock Inc. purchased a new stake in Hennessy Advisors in the 2nd quarter worth about $201,000. Finally, Empowered Funds LLC bought a new stake in Hennessy Advisors in the second quarter worth about $168,000. Institutional investors own 10.31% of the company's stock.
Hennessy Advisors Company Profile
(
Get Free Report)
Hennessy Advisors, Inc is an investment management company that provides advisory services to mutual funds, exchange-traded funds and other investment vehicles. The company develops and manages portfolios for individual and institutional investors, with strategies spanning U.S. equities, financial companies, growth stocks, income-oriented investments and other specialized areas.
Through the Hennessy Funds family, the company offers a range of actively managed and index-oriented investment products.
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