Hennessy Advisors (NASDAQ:HNNA) Shares Cross Below 200-Day Moving Average – Here’s Why

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.05 and traded as low as $10.66. Hennessy Advisors shares last traded at $10.99, with a volume of 6,281 shares traded.

Hennessy Advisors Stock Performance

The company has a current ratio of 18.29, a quick ratio of 18.29 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $12.05 and its 200-day moving average is $11.05. The company has a market capitalization of $83.68 million, a P/E ratio of 9.60 and a beta of 0.83.

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

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 paid a $0.1375 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.55 annualized dividend and a dividend yield of 5.12%. Hennessy Advisors’s payout ratio is 49.11%.

Insider Activity at Hennessy Advisors

In related news, CFO Kathryn Fahy sold 8,000 shares of the stock in a transaction dated 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 approximately $821,515.77. This represents a 9.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Daniel B. Steadman sold 2,900 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $11.75, for a total transaction of $34,075.00. Following the sale, the vice president now directly owns 44,342 shares in the company, valued at $521,018.50. This trade represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,083 shares of company stock valued at $455,875. 37.40% of the stock is owned by insiders.

Institutional Trading of Hennessy Advisors

Several institutional investors have recently bought and sold shares of HNNA. Quinn Opportunity Partners LLC purchased a new stake in shares of Hennessy Advisors during the 4th quarter valued at about $139,000. Allworth Financial LP purchased 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% during the 4th 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 boosted its holdings 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 valued at $452,000 after acquiring an additional 11,877 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new stake in shares of Hennessy Advisors during the 4th quarter valued at about $605,000. 10.31% of the stock is owned by hedge funds and other 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.