Hennessy Advisors (NASDAQ:HNNA) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-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 traded.

Hennessy Advisors Stock Up 0.5 %

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 firm’s 50-day moving average is $11.63 and its 200 day moving average is $11.12. The firm has a market capitalization of $81.34 million, a PE ratio of 9.33 and a beta of 0.83.

Hennessy Advisors (NASDAQ:HNNA) last issued its quarterly earnings data 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a $0.1375 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.55 annualized dividend and a dividend yield of 5.26%. Hennessy Advisors’s dividend payout ratio is currently 49.11%.

Insider Activity at Hennessy Advisors

In other Hennessy Advisors news, VP Daniel B. Steadman sold 3,407 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $11.99, for a total value of $40,849.93. Following the completion of the transaction, the vice president now directly owns 38,282 shares in the company, valued at approximately $459,001.18. The trade was a 8.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kathryn Fahy sold 8,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $11.07, for a total value of $88,560.00. Following the transaction, the chief financial officer now directly owns 74,211 shares in the company, valued at approximately $821,515.77. This represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,737 shares of company stock valued at $145,277 over the last quarter. Insiders own 37.40% of the company’s stock.

Hedge Funds Weigh In On Hennessy Advisors

Several institutional investors have recently added to or reduced their stakes in the business. Quinn Opportunity Partners LLC acquired a new position in Hennessy Advisors during the fourth quarter worth approximately $139,000. Allworth Financial LP purchased a new position in shares of Hennessy Advisors in the 4th quarter worth $336,000. Northern Trust Corp boosted its holdings in 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 acquiring an additional 13,407 shares during the last quarter. Geode Capital Management LLC grew its position in Hennessy Advisors by 35.5% during the third quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock valued at $452,000 after acquiring an additional 11,877 shares during the period. Finally, Navellier & Associates Inc. acquired a new stake in Hennessy Advisors during the fourth quarter worth about $605,000. 10.31% of the stock is currently owned by institutional investors and hedge funds.

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.