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

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock 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 changing hands.

Hennessy Advisors Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 18.29 and a current ratio of 18.29. The company’s 50 day moving average price is $11.83 and its 200 day moving average price is $11.09. The company has a market cap of $79.24 million, a price-to-earnings ratio of 9.09 and a beta of 0.83.

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

Hennessy Advisors Cuts Dividend

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

Insider Activity at Hennessy Advisors

In related news, CFO Kathryn Fahy sold 8,000 shares of Hennessy Advisors stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $11.07, for a total value of $88,560.00. Following the completion of the transaction, the chief financial officer now directly owns 74,211 shares of the company’s stock, valued at $821,515.77. The trade was a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas L. Seavey sold 7,269 shares of Hennessy Advisors stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $12.10, for a total value of $87,954.90. Following the completion of the transaction, the director now directly owns 83,160 shares of the company’s stock, valued at $1,006,236. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,083 shares of company stock valued at $455,875 over the last ninety days. 37.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Northern Trust Corp raised 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 valued at $439,000 after buying an additional 13,407 shares during the last quarter. Quinn Opportunity Partners LLC bought a new stake in Hennessy Advisors during the 4th quarter worth about $139,000. Geode Capital Management LLC raised its holdings in Hennessy Advisors by 5.3% during the 4th 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 last quarter. Navellier & Associates Inc. bought a new stake in Hennessy Advisors during the 4th quarter worth about $605,000. Finally, Allworth Financial LP bought a new stake in Hennessy Advisors during the 4th quarter worth about $336,000. 10.31% of the stock is owned by 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.