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

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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.

Hennessy Advisors Trading Down 2.2 %

The firm has a market cap of $83.68 million, a PE ratio of 9.60 and a beta of 0.83. The stock’s 50 day simple moving average is $12.05 and its 200 day simple moving average is $11.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 18.29 and a current ratio of 18.29.

Hennessy Advisors (NASDAQ:HNNA) last announced its quarterly earnings data on Thursday, February 13th. The asset manager reported $0.36 earnings per share (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 during the quarter.

Hennessy Advisors Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid 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 5.12%. Hennessy Advisors’s dividend payout ratio (DPR) is 49.11%.

Insider Activity

In related news, VP Daniel B. Steadman sold 2,900 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $11.75, for a total transaction of $34,075.00. Following the completion of the sale, the vice president now directly owns 44,342 shares in the company, valued at $521,018.50. This represents a 6.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas L. Seavey sold 11,074 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $11.44, for a total transaction of $126,686.56. Following the sale, the director now owns 70,429 shares of the company’s stock, valued at $805,707.76. This represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,083 shares of company stock valued at $455,875. Corporate insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Hennessy Advisors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNNA. Geode Capital Management LLC raised its holdings in 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 buying an additional 11,877 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in Hennessy Advisors by 1.7% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager’s stock worth $671,000 after purchasing an additional 875 shares in the last quarter. Perigon Wealth Management LLC raised its holdings 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 worth $778,000 after purchasing an additional 15,882 shares in the last quarter. Allworth Financial LP bought a new position in Hennessy Advisors in the 4th quarter worth $336,000. Finally, Navellier & Associates Inc. bought a new position in Hennessy Advisors in the 4th quarter worth $605,000. 10.31% of the stock is currently owned by 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.