Hennessy Advisors (NASDAQ:HNNA) Stock Passes Below 200-Day Moving Average – Here’s Why

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.12 and traded as low as $10.41. Hennessy Advisors shares last traded at $10.45, with a volume of 11,877 shares trading hands.

Hennessy Advisors Price Performance

The firm has a market cap of $81.34 million, a price-to-earnings ratio of 9.33 and a beta of 0.83. 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’s fifty day moving average price is $11.63 and its 200-day moving average price is $11.12.

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

Hennessy Advisors Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a $0.1375 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.55 dividend on an annualized basis and a yield of 5.26%. Hennessy Advisors’s payout ratio is currently 49.11%.

Insider Activity

In other Hennessy Advisors news, VP Daniel B. Steadman sold 3,407 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $11.99, for a total value of $40,849.93. Following the sale, the vice president now owns 38,282 shares of the company’s stock, valued at $459,001.18. This trade represents a 8.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathryn Fahy sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $11.07, for a total transaction of $88,560.00. Following the completion of the sale, the chief financial officer now owns 74,211 shares in the company, valued at $821,515.77. The trade was a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,737 shares of company stock valued at $145,277. Company insiders own 37.40% of the company’s stock.

Institutional Trading of Hennessy Advisors

A number of institutional investors have recently bought and sold shares of the business. Perigon Wealth Management LLC boosted its holdings in shares of Hennessy Advisors by 33.1% in the 4th quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock valued at $778,000 after buying an additional 15,882 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its stake in Hennessy Advisors by 1.7% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager’s stock valued at $671,000 after acquiring an additional 875 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hennessy Advisors by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager’s stock worth $604,000 after purchasing an additional 2,400 shares during the period. Navellier & Associates Inc. acquired a new position in shares of Hennessy Advisors during the fourth quarter worth about $605,000. Finally, Northern Trust Corp raised its stake in shares of 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 buying an additional 13,407 shares in the last quarter. 10.31% of the stock is owned by hedge funds and other institutional investors.

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.