This Insider Has Just Sold Shares In Hennessy Advisors, Inc. (NASDAQ:HNNA)

We note that the Hennessy Advisors, Inc. (NASDAQ:HNNA) Independent Director, Rodger Offenbach, recently sold US$64k worth of stock for US$8.94 per share. However we note that the sale only shrunk their holding by 5.9%.

Check out our latest analysis for Hennessy Advisors

Hennessy Advisors Insider Transactions Over The Last Year

The Chairman & CEO Neil Hennessy made the biggest insider purchase in the last 12 months. That single transaction was for US$146k worth of shares at a price of US$6.16 each. We do like to see buying, but this purchase was made at well below the current price of US$8.52. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.

You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).

Insider Ownership of Hennessy Advisors

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It's great to see that Hennessy Advisors insiders own 50% of the company, worth about US$32m. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

What Might The Insider Transactions At Hennessy Advisors Tell Us?

An insider sold Hennessy Advisors shares recently, but they didn't buy any. In contrast, they appear keener if you look at the last twelve months. And insider ownership remains quite considerable. So the recent selling doesn't worry us. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Case in point: We've spotted 3 warning signs for Hennessy Advisors you should be aware of, and 1 of these doesn't sit too well with us.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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