Hennessy Advisors (NASDAQ:HNNA) Stock Crosses Above 50 Day Moving Average - Time to Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $12.25 and traded as high as $12.38. Hennessy Advisors shares last traded at $12.31, with a volume of 4,692 shares.

Hennessy Advisors Trading Up 1.9 %

The stock has a market capitalization of $96.47 million, a P/E ratio of 13.48 and a beta of 0.77. The company has a current ratio of 13.78, a quick ratio of 13.78 and a debt-to-equity ratio of 0.43. The stock's fifty day moving average price is $12.27 and its two-hundred day moving average price is $10.78.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The asset manager reported $0.36 EPS for the quarter. Hennessy Advisors had a net margin of 26.64% and a return on equity of 7.92%.

Hennessy Advisors Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be issued a dividend of $0.1375 per share. The ex-dividend date is Monday, February 24th. This represents a $0.55 dividend on an annualized basis and a yield of 4.44%. Hennessy Advisors's dividend payout ratio is currently 59.78%.

Insider Activity at Hennessy Advisors

In related news, Director Thomas L. Seavey sold 7,269 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $12.10, for a total transaction of $87,954.90. Following the completion of the sale, the director now directly owns 83,160 shares in the company, valued at $1,006,236. This represents a 8.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Daniel B. Steadman sold 3,200 shares of the company's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.19, for a total transaction of $39,008.00. Following the sale, the vice president now owns 47,242 shares of the company's stock, valued at $575,879.98. This represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,083 shares of company stock worth $367,315 in the last three months. 37.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quinn Opportunity Partners LLC purchased a new position in Hennessy Advisors during the 4th quarter valued at $139,000. Allworth Financial LP purchased a new position in Hennessy Advisors during the 4th quarter valued at $336,000. Northern Trust Corp increased its position in Hennessy Advisors by 63.8% during the 4th quarter. Northern Trust Corp now owns 34,432 shares of the asset manager's stock valued at $439,000 after purchasing an additional 13,407 shares during the period. 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. Finally, Navellier & Associates Inc. purchased a new position in Hennessy Advisors during the 4th quarter valued at $605,000. 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.