Hennessy Advisors (NASDAQ:HNNA) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.15 and traded as low as $9.88. Hennessy Advisors shares last traded at $9.92, with a volume of 5,204 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Hennessy Advisors from a “hold (c)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Hennessy Advisors presently has an average rating of “Buy”.

Hennessy Advisors Stock Down 1.7%

The company has a quick ratio of 15.58, a current ratio of 15.58 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $10.48 and a 200-day simple moving average of $11.15. The stock has a market cap of $77.26 million, a P/E ratio of 7.94 and a beta of 0.70.

Hennessy Advisors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Hennessy Advisors’s dividend payout ratio is currently 44.00%.

Insider Buying and Selling

In other Hennessy Advisors news, Director Thomas L. Seavey sold 2,603 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $10.63, for a total transaction of $27,669.89. Following the completion of the transaction, the director owned 50,424 shares of the company’s stock, valued at $536,007.12. The trade was a 4.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 2,996 shares of company stock valued at $31,888. Company insiders own 37.40% of the company’s stock.

Hedge Funds Weigh In On Hennessy Advisors

Institutional investors have recently made changes to their positions in the business. Truffle Hound Capital LLC lifted its position in shares of Hennessy Advisors by 241.8% during the 3rd quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock worth $1,576,000 after purchasing an additional 106,726 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Hennessy Advisors by 9.8% during the third quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager’s stock worth $791,000 after buying an additional 6,714 shares during the last quarter. Navellier & Associates Inc. lifted its holdings in shares of Hennessy Advisors by 72.2% during the third quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock worth $770,000 after buying an additional 30,889 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Hennessy Advisors by 2.0% in the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock valued at $654,000 after acquiring an additional 1,014 shares during the period. Finally, Bridgeway Capital Management LLC grew its stake in shares of Hennessy Advisors by 6.7% in the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after acquiring an additional 1,072 shares during the last quarter. 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.