Hennessy Advisors (NASDAQ:HNNA) Stock Price Crosses Above 50 Day Moving Average of $7.10

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $7.10 and traded as high as $7.31. Hennessy Advisors shares last traded at $7.20, with a volume of 4,386 shares trading hands.

Hennessy Advisors Trading Up 1.1 %

The company has a market capitalization of $55.30 million, a price-to-earnings ratio of 10.59 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 20.01 and a current ratio of 20.01. The business’s 50-day simple moving average is $7.10 and its 200-day simple moving average is $6.94.

Hennessy Advisors (NASDAQ:HNNA) last released its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.20 earnings per share for the quarter. The business had revenue of $6.94 million for the quarter. Hennessy Advisors had a net margin of 20.75% and a return on equity of 5.90%.

Hennessy Advisors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a dividend of $0.138 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.67%. Hennessy Advisors’s payout ratio is presently 80.88%.

Institutional Investors Weigh In On Hennessy Advisors

An institutional investor recently raised its position in Hennessy Advisors stock. Perigon Wealth Management LLC lifted its position in shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) by 193.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,916 shares of the asset manager’s stock after buying an additional 31,608 shares during the quarter. Perigon Wealth Management LLC owned about 0.62% of Hennessy Advisors worth $322,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 10.31% of the company’s stock.

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.