Canopy Growth stock tumbles after announcing $200 million share sale plan
Teresa M. Nilsen, President, COO, and Secretary of Hennessy Advisors Inc. (NASDAQ:HNNA), recently sold shares of the company in several transactions, totaling $82,102. The sales occurred on March 20, March 21, and March 24, 2025, with prices ranging from $10.3756 to $10.5042 per share. The stock, currently trading at $10.45, has delivered an impressive 62% return over the past year. According to InvestingPro analysis, HNNA appears undervalued at current levels.
The transactions involved the sale of 1,860 shares on March 20 at an average price of $10.4639, 3,000 shares on March 21 at an average price of $10.3756, and another 3,000 shares on March 24 at an average price of $10.5042. These shares were held in accounts under the names of Nilsen’s children and were sold at their discretion. The company maintains a healthy 5.26% dividend yield and has consistently paid dividends for 21 consecutive years, as highlighted in InvestingPro’s analysis, which features 5 additional key insights about HNNA.
Following these transactions, Nilsen’s direct ownership includes 144,123 shares, with an additional 1,518 shares held indirectly through her spouse’s IRA. The company trades at an attractive P/E ratio of 9.27, reflecting its strong financial position and market performance.
In other recent news, Hennessy Advisors, Inc. reported a notable increase in its financial performance for the first fiscal quarter ending December 31, 2024. The firm experienced a 136% rise in net income, reaching $2.8 million, and a 58% increase in total revenue, amounting to $9.7 million compared to the previous year. Additionally, earnings per share rose by 125% to $0.36, reflecting strong returns across all 17 of its funds. Hennessy Advisors also announced an expansion of its ETF lineup by acquiring assets from STF Management, LP, including two ETFs with combined assets of approximately $220 million. This acquisition is expected to conclude in the third quarter of 2025, pending regulatory approvals. In corporate governance developments, the company confirmed the re-election of its board members and the ratification of CBIZ (NYSE:CBZ) CPAs P.C. as its independent auditor for fiscal year 2025. These recent developments underscore Hennessy Advisors’ strategic growth and commitment to maintaining robust financial management.
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