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

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s share price passed 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 Trading Down 1.9 %

The stock has a market cap of $79.24 million, a P/E ratio of 9.09 and a beta of 0.83. The firm’s fifty day moving average price is $11.83 and its two-hundred day moving average price is $11.08. 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 released its quarterly earnings results on Thursday, February 13th. The asset manager reported $0.36 earnings per share for the quarter. The firm had revenue of $9.71 million for the quarter. Hennessy Advisors had a net margin of 26.29% and a return on equity of 9.60%.

Hennessy Advisors Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid 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 5.40%. Hennessy Advisors’s dividend payout ratio is presently 49.11%.

Insider Activity at Hennessy Advisors

In other Hennessy Advisors news, Director Thomas L. Seavey sold 7,269 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $12.10, for a total transaction of $87,954.90. Following the completion of the sale, the director now directly owns 83,160 shares in the company, valued at $1,006,236. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Daniel B. Steadman sold 3,200 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.19, for a total transaction of $39,008.00. Following the sale, the vice president now owns 47,242 shares of the company’s stock, valued at approximately $575,879.98. The trade was a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,083 shares of company stock valued at $455,875 over the last 90 days. 37.40% of the stock is owned by insiders.

Institutional Trading of Hennessy Advisors

Institutional investors have recently added to or reduced their stakes in the business. Quinn Opportunity Partners LLC purchased a new stake in shares of Hennessy Advisors during the fourth quarter worth about $139,000. Allworth Financial LP purchased a new stake in shares of Hennessy Advisors during the fourth quarter worth about $336,000. Northern Trust Corp boosted its holdings in shares of Hennessy Advisors by 63.8% during the fourth 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. Geode Capital Management LLC boosted its holdings in shares of Hennessy Advisors by 35.5% during the third 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. Finally, Navellier & Associates Inc. purchased a new stake in shares of Hennessy Advisors during the fourth quarter worth about $605,000. 10.31% of the stock is currently owned by hedge funds and other institutional investors.

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.