Hennessy Advisors, Inc. (NASDAQ:HNNA) CEO Neil J. Hennessy Buys 6,800 Shares

Hennessy Advisors, Inc. (NASDAQ:HNNAGet Rating) CEO Neil J. Hennessy bought 6,800 shares of the stock in a transaction dated Monday, May 22nd. The shares were acquired at an average price of $6.87 per share, with a total value of $46,716.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,038,785 shares of the company’s stock, valued at approximately $14,006,452.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hennessy Advisors Trading Up 3.5 %

Hennessy Advisors stock opened at $7.01 on Friday. The business’s fifty day simple moving average is $7.46 and its two-hundred day simple moving average is $8.36. The company has a current ratio of 23.13, a quick ratio of 23.13 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $53.14 million, a price-to-earnings ratio of 10.62 and a beta of 0.90. Hennessy Advisors, Inc. has a 12 month low of $6.75 and a 12 month high of $10.95.

Hennessy Advisors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 5th. Shareholders of record on Tuesday, May 23rd will be paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 7.87%. This is an increase from Hennessy Advisors’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, May 22nd. Hennessy Advisors’s dividend payout ratio (DPR) is currently 83.33%.

Institutional Investors Weigh In On Hennessy Advisors

Several institutional investors have recently modified their holdings of the business. Burleson & Company LLC raised its holdings in shares of Hennessy Advisors by 83.6% during the fourth quarter. Burleson & Company LLC now owns 17,372 shares of the asset manager’s stock valued at $146,000 after purchasing an additional 7,908 shares during the last quarter. Bank of America Corp DE increased its position in Hennessy Advisors by 30.0% during the first quarter. Bank of America Corp DE now owns 13,652 shares of the asset manager’s stock valued at $106,000 after acquiring an additional 3,151 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in Hennessy Advisors by 65.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 4,550 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 1,800 shares during the period. Finally, Vanguard Group Inc. boosted its position in Hennessy Advisors by 0.6% in the first quarter. Vanguard Group Inc. now owns 201,412 shares of the asset manager’s stock worth $2,040,000 after purchasing an additional 1,148 shares during the last quarter. 13.92% of the stock is owned by hedge funds and other institutional investors.

Hennessy Advisors Company Profile

(Get Rating)

Hennessy Advisors, Inc investment management firm, which engages in managing, servicing and marketing open-end mutual funds branded as the Hennessy Funds. It manages domestic equity, multi-asset, or sector and specialty products. The company was founded by Neil Joseph Hennessy on February 1, 1989 and is headquartered in Novato, CA.

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