Hennessy Advisors (NASDAQ:HNNA) Stock Price Crosses Below 200 Day Moving Average - Here's Why

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.08 and traded as low as $9.38. Hennessy Advisors shares last traded at $10.18, with a volume of 12,832 shares traded.

Hennessy Advisors Trading Down 2.1 %

The firm has a market capitalization of $81.58 million, a P/E ratio of 9.36 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. The firm has a 50 day moving average price of $11.79 and a two-hundred day moving average price of $11.10.

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

Hennessy Advisors Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a $0.1375 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.55 annualized dividend and a dividend yield of 5.25%. Hennessy Advisors's dividend payout ratio (DPR) is presently 49.11%.

Insider Transactions at Hennessy Advisors

In other Hennessy Advisors news, VP Daniel B. Steadman sold 3,200 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $12.19, for a total transaction of $39,008.00. Following the transaction, the vice president now directly owns 47,242 shares in the company, valued at $575,879.98. This trade represents a 6.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas L. Seavey sold 11,074 shares of the firm's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $11.44, for a total value of $126,686.56. Following the transaction, the director now owns 70,429 shares in the company, valued at approximately $805,707.76. This trade represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,814 shares of company stock valued at $367,920 over the last quarter. Company insiders own 37.40% of the company's stock.

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Hedge Funds Weigh In On Hennessy Advisors

A number of institutional investors have recently made changes to their positions in the business. Redhawk Wealth Advisors Inc. grew its position in Hennessy Advisors by 1.7% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager's stock worth $671,000 after buying an additional 875 shares in the last quarter. Geode Capital Management LLC grew its position in Hennessy Advisors by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager's stock worth $604,000 after buying an additional 2,400 shares in the last quarter. Quinn Opportunity Partners LLC acquired a new stake in Hennessy Advisors during the fourth quarter worth about $139,000. Northern Trust Corp grew its position in 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 buying an additional 13,407 shares in the last quarter. Finally, Perigon Wealth Management LLC grew its position in Hennessy Advisors by 33.1% during the fourth quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager's stock worth $778,000 after buying an additional 15,882 shares in 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.