Hennessy Advisors (NASDAQ:HNNA) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Hennessy Advisors Price Performance

The company has a fifty day simple moving average of $11.54 and a two-hundred day simple moving average of $11.11. The stock has a market capitalization of $80.56 million, a price-to-earnings ratio of 9.24 and a beta of 0.83. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The asset manager reported $0.36 earnings per share for the quarter. The company had revenue of $9.71 million for the quarter. Hennessy Advisors had a net margin of 26.29% and a return on equity of 9.60%.

Hennessy Advisors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a yield of 5.31%. The ex-dividend date was Monday, February 24th. Hennessy Advisors's dividend payout ratio (DPR) is presently 49.11%.

Insider Buying and Selling

In related news, CFO Kathryn Fahy sold 8,000 shares of Hennessy Advisors stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $11.07, for a total value of $88,560.00. Following the completion of the transaction, the chief financial officer now directly owns 74,211 shares in the company, valued at approximately $821,515.77. The trade was a 9.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 9,575 shares of company stock worth $106,509. Insiders own 37.40% of the company's stock.

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Institutional Investors Weigh In On Hennessy Advisors

Several institutional investors have recently made changes to their positions in the stock. Navellier & Associates Inc. bought a new position in Hennessy Advisors in the 4th quarter worth about $605,000. Allworth Financial LP bought a new position in Hennessy Advisors in the 4th quarter worth about $336,000. Perigon Wealth Management LLC raised its holdings in shares of Hennessy Advisors by 33.1% in the 4th quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager's stock valued at $778,000 after acquiring an additional 15,882 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Hennessy Advisors by 63.8% during the fourth quarter. Northern Trust Corp now owns 34,432 shares of the asset manager's stock worth $439,000 after purchasing an additional 13,407 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Hennessy Advisors by 35.5% in the third quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager's stock worth $452,000 after purchasing an additional 11,877 shares during the last quarter. Hedge funds and other institutional investors own 10.31% of the company's stock.

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.