Hennessy Advisors (NASDAQ:HNNA) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.05 and traded as low as $10.66. Hennessy Advisors shares last traded at $10.99, with a volume of 6,281 shares changing hands.

Hennessy Advisors Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 18.29 and a quick ratio of 18.29. The stock has a market cap of $85.55 million, a price-to-earnings ratio of 9.81 and a beta of 0.83. The firm’s 50-day moving average is $12.06 and its 200 day moving average is $11.05.

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

Hennessy Advisors Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued a $0.1375 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.00%. Hennessy Advisors’s dividend payout ratio (DPR) is 49.11%.

Insider Transactions 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 of the company’s stock, valued at approximately $1,006,236. This represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathryn Fahy sold 8,000 shares of the firm’s stock in a transaction dated 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 $821,515.77. This trade represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,083 shares of company stock worth $455,875. 37.40% of the stock is currently owned by company insiders.

Institutional Trading of Hennessy Advisors

Large investors have recently bought and sold shares of the company. Navellier & Associates Inc. acquired a new stake in Hennessy Advisors during the 4th quarter valued at $605,000. Allworth Financial LP acquired a new position in Hennessy Advisors in the 4th quarter worth $336,000. Perigon Wealth Management LLC boosted its position in 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 buying an additional 15,882 shares during the last quarter. Northern Trust Corp grew its stake 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 valued at $439,000 after acquiring 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% during the third quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after acquiring an additional 11,877 shares during the last quarter. Institutional investors and hedge funds 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.