Hennessy Advisors (NASDAQ:HNNA) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Hennessy Advisors, Inc. (NASDAQ:HNNA) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.13 and traded as low as $9.65. Hennessy Advisors shares last traded at $10.09, with a volume of 22,817 shares traded.

Hennessy Advisors Price Performance

The company has a market capitalization of $78.54 million, a PE ratio of 9.01 and a beta of 0.83. The company has a quick ratio of 18.29, a current ratio of 18.29 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $11.41 and its 200-day moving average is $11.13.

Hennessy Advisors (NASDAQ:HNNA) last posted its quarterly earnings data on Thursday, February 13th. The asset manager reported $0.36 earnings per share (EPS) for the quarter. The firm 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 firm also recently declared 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 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Monday, February 24th. Hennessy Advisors’s dividend payout ratio (DPR) is presently 49.11%.

Insider Buying and Selling

In other Hennessy Advisors news, CFO Kathryn Fahy sold 8,000 shares of the company’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 transaction of $88,560.00. Following the transaction, the chief financial officer now owns 74,211 shares in the company, valued at approximately $821,515.77. This represents a 9.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 37.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HNNA. Quinn Opportunity Partners LLC purchased a new stake in shares of Hennessy Advisors during the fourth quarter valued at $139,000. Allworth Financial LP bought a new stake in shares of Hennessy Advisors during the 4th quarter valued at about $336,000. Northern Trust Corp boosted its holdings in shares of Hennessy Advisors by 63.8% in the fourth 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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. bought a new position in Hennessy Advisors in the 4th quarter worth $605,000. 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.