Hennessy Advisors (NASDAQ:HNNA) Stock Crosses Below 200 Day Moving Average – What’s Next?

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.08 and traded as low as $9.38. Hennessy Advisors shares last traded at $10.18, with a volume of 12,832 shares traded.

Hennessy Advisors Price Performance

The company has a current ratio of 18.29, a quick ratio of 18.29 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $79.24 million, a P/E ratio of 9.09 and a beta of 0.83. The company has a fifty day simple moving average of $11.83 and a two-hundred day simple moving average of $11.09.

Hennessy Advisors (NASDAQ:HNNA) last announced its quarterly earnings results on Thursday, February 13th. The asset manager reported $0.36 EPS for the quarter. The company had revenue of $9.71 million during the quarter. Hennessy Advisors had a return on equity of 9.60% and a net margin of 26.29%.

Hennessy Advisors Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $0.1375 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.40%. Hennessy Advisors’s dividend payout ratio (DPR) is presently 49.11%.

Insider Activity

In related news, CFO Kathryn Fahy sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $11.07, for a total value of $88,560.00. Following the completion of the transaction, the chief financial officer now directly owns 74,211 shares in the company, valued at approximately $821,515.77. The trade was a 9.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel B. Steadman sold 3,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.19, for a total value of $39,008.00. Following the completion of the transaction, the vice president now owns 47,242 shares of the company’s stock, valued at $575,879.98. This represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,083 shares of company stock valued at $455,875 in the last ninety days. 37.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Hennessy Advisors

Institutional investors and hedge funds have recently modified their holdings of the business. Quinn Opportunity Partners LLC acquired a new position in shares of Hennessy Advisors in the 4th quarter valued at approximately $139,000. Allworth Financial LP acquired a new position in Hennessy Advisors during the 4th quarter worth approximately $336,000. Northern Trust Corp boosted its position in Hennessy Advisors by 63.8% during the 4th quarter. Northern Trust Corp now owns 34,432 shares of the asset manager’s stock worth $439,000 after acquiring an additional 13,407 shares during the last quarter. Geode Capital Management LLC boosted its position in Hennessy Advisors by 35.5% during the 3rd quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after acquiring an additional 11,877 shares during the last quarter. Finally, Navellier & Associates Inc. acquired a new position in Hennessy Advisors during the 4th quarter worth approximately $605,000. 10.31% of the stock is currently owned by institutional investors and hedge funds.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an employee owned investment manager. It provides its services to Hennessy Funds and investment companies. The firm launches and manages equity, fixed income, and balanced mutual funds. It invests in the public equity and fixed income markets across the globe. The firm primarily invests in growth stocks of companies.