Hennessy Advisors (NASDAQ:HNNA) Shares Cross Below 200-Day Moving Average – What’s Next?

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 trading hands.

Hennessy Advisors Stock Performance

The business’s fifty day simple moving average is $11.61 and its 200-day simple moving average is $11.12. The firm has a market cap of $81.03 million, a P/E ratio of 9.29 and a beta of 0.83. The company has a current ratio of 18.29, a quick ratio of 18.29 and a debt-to-equity ratio of 0.42.

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

Hennessy Advisors Cuts Dividend

The firm also recently disclosed 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 of this dividend was Monday, February 24th. This represents a $0.55 annualized dividend and a yield of 5.28%. Hennessy Advisors’s payout ratio is 49.11%.

Insider Buying and Selling

In related news, VP Daniel B. Steadman sold 3,407 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $11.99, for a total transaction of $40,849.93. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathryn Fahy sold 8,000 shares of Hennessy Advisors stock in a transaction 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 owns 74,211 shares in the company, valued at $821,515.77. This represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,737 shares of company stock worth $145,277. 37.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Navellier & Associates Inc. purchased a new position in shares of Hennessy Advisors in the fourth quarter valued at about $605,000. Allworth Financial LP bought a new position in Hennessy Advisors during the fourth quarter valued at $336,000. Perigon Wealth Management LLC boosted its position in shares of Hennessy Advisors by 33.1% during the fourth 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 during the period. Northern Trust Corp boosted its position in Hennessy Advisors by 63.8% in the 4th 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 period. Finally, Geode Capital Management LLC increased its position 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 purchasing an additional 11,877 shares during the period. 10.31% of the stock is owned by hedge funds and other 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.