Hennessy Advisors (NASDAQ:HNNA) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.14 and traded as low as $9.33. Hennessy Advisors shares last traded at $9.52, with a volume of 3,391 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hennessy Advisors in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Hennessy Advisors Stock Up 2.0%

The business’s 50-day moving average price is $10.92 and its 200-day moving average price is $11.14. 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 firm has a market capitalization of $74.10 million, a PE ratio of 7.61 and a beta of 0.71.

Hennessy Advisors (NASDAQ:HNNA) last posted its quarterly earnings results on Wednesday, August 6th. The asset manager reported $0.26 earnings per share (EPS) for the quarter. Hennessy Advisors had a net margin of 27.55% and a return on equity of 10.48%.

Hennessy Advisors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th were given a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Wednesday, August 20th. Hennessy Advisors’s dividend payout ratio is 44.00%.

Insider Activity

In other news, Director Thomas L. Seavey sold 2,603 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $10.63, for a total value of $27,669.89. Following the completion of the sale, the director directly owned 50,424 shares of the company’s stock, valued at $536,007.12. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 20,398 shares of company stock valued at $219,216 over the last ninety days. 37.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hennessy Advisors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its position in Hennessy Advisors by 202.5% during the first quarter. Allworth Financial LP now owns 81,380 shares of the asset manager’s stock valued at $859,000 after acquiring an additional 54,480 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its position in Hennessy Advisors by 9.8% during the third quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager’s stock valued at $791,000 after acquiring an additional 6,714 shares in the last quarter. Geode Capital Management LLC raised its position in Hennessy Advisors by 2.0% during 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 in the last quarter. Truffle Hound Capital LLC bought a new position in Hennessy Advisors during the second quarter valued at approximately $556,000. Finally, Bridgeway Capital Management LLC raised its position in Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock valued at $215,000 after acquiring an additional 1,072 shares in the last quarter. Institutional investors own 10.31% of the company’s stock.

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.