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

Hennessy Advisors, Inc. (NASDAQ:HNNA) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 changing hands.

Hennessy Advisors Stock Down 1.9 %

The stock’s 50 day simple moving average is $11.83 and its two-hundred day simple moving average is $11.08. The firm has a market cap of $79.24 million, a P/E ratio of 9.09 and a beta of 0.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 18.29 and a quick ratio of 18.29.

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

Hennessy Advisors Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date was Monday, February 24th. Hennessy Advisors’s dividend payout ratio is 49.11%.

Insider Buying and Selling at Hennessy Advisors

In related news, Director Thomas L. Seavey sold 11,074 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $11.44, for a total transaction of $126,686.56. Following the completion of the sale, the director now owns 70,429 shares of the company’s stock, valued at $805,707.76. This trade represents a 13.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathryn Fahy sold 8,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 74,211 shares of the company’s stock, valued at $821,515.77. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,083 shares of company stock valued at $455,875. Corporate insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Hennessy Advisors

Several institutional investors and hedge funds have recently made changes to their positions in HNNA. Navellier & Associates Inc. bought a new stake in shares of Hennessy Advisors during the fourth quarter valued at approximately $605,000. Allworth Financial LP bought a new stake in Hennessy Advisors in the 4th quarter worth approximately $336,000. Perigon Wealth Management LLC grew its position in Hennessy Advisors by 33.1% in the 4th quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock worth $778,000 after purchasing an additional 15,882 shares during the period. Northern Trust Corp grew its position in Hennessy Advisors by 63.8% in the 4th quarter. Northern Trust Corp now owns 34,432 shares of the asset manager’s stock worth $439,000 after purchasing an additional 13,407 shares during the period. Finally, Geode Capital Management LLC grew its position in Hennessy Advisors by 35.5% in the 3rd quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after purchasing an additional 11,877 shares during the period. Institutional investors own 10.31% of the company’s stock.

About Hennessy Advisors

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.