Hennessy Advisors (NASDAQ:HNNA) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s share price passed 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.

Hennessy Advisors Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 18.29 and a quick ratio of 18.29. The stock has a 50-day moving average price of $11.61 and a 200 day moving average price of $11.12. The company has a market cap of $81.03 million, a price-to-earnings ratio of 9.29 and a beta of 0.83.

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 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 company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued a $0.1375 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.28%. Hennessy Advisors’s payout ratio is 49.11%.

Insiders Place Their Bets

In other Hennessy Advisors news, VP Daniel B. Steadman sold 3,407 shares of the company’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 transaction, the vice president now directly owns 38,282 shares of the company’s stock, valued at $459,001.18. This represents a 8.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kathryn Fahy sold 8,000 shares of the firm’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 directly owns 74,211 shares in the company, valued at $821,515.77. This represents a 9.73 % decrease in their ownership of the stock. 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 90 days. 37.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Navellier & Associates Inc. acquired a new position in shares of Hennessy Advisors in the fourth quarter valued at approximately $605,000. Allworth Financial LP bought a new position in Hennessy Advisors during the fourth quarter worth $336,000. Perigon Wealth Management LLC increased its position in Hennessy Advisors by 33.1% in the 4th quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock valued at $778,000 after buying an additional 15,882 shares in the last quarter. 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 worth $439,000 after acquiring an additional 13,407 shares in the last quarter. Finally, Geode Capital Management LLC raised its position 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. 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.