Hennessy Advisors (NASDAQ:HNNA) Share Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Hennessy Advisors' share price fell below its 200-day moving average of $11.15, reaching a low of $10.44 before last trading at $10.78.
• The company has announced a quarterly dividend of $0.1375, representing an annualized yield of 5.1% with a dividend payout ratio of 44%.
• Insider trading activity shows Director Thomas L. Seavey sold 2,603 shares, reducing their stake by nearly 5% to maintain a holding of 50,424 shares.

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.15 and traded as low as $10.44. Hennessy Advisors shares last traded at $10.78, with a volume of 5,362 shares traded.

Hennessy Advisors Stock Performance

The business's 50-day moving average price is $11.68 and its 200-day moving average price is $11.15. The company has a current ratio of 15.58, a quick ratio of 15.58 and a debt-to-equity ratio of 0.41. The stock has a market cap of $83.98 million, a PE ratio of 8.62 and a beta of 0.75.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last issued its quarterly earnings data 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 announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Wednesday, August 20th were paid a $0.1375 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.55 dividend on an annualized basis and a yield of 5.1%. Hennessy Advisors's dividend payout ratio (DPR) is 44.00%.

Insider Buying and Selling

In related news, Director Thomas L. Seavey sold 2,603 shares of Hennessy Advisors 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 in the company, valued at $536,007.12. This trade represents a 4.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 20,008 shares of company stock valued at $215,031. 37.40% of the stock is owned by company insiders.

Institutional Trading of Hennessy Advisors

Institutional investors have recently bought and sold shares of the stock. Evergreen Capital Management LLC acquired a new stake in Hennessy Advisors in the 2nd quarter worth approximately $190,000. Bridgeway Capital Management LLC boosted its stake in Hennessy Advisors by 6.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager's stock worth $215,000 after purchasing an additional 1,072 shares in the last quarter. Northern Trust Corp boosted its stake in Hennessy Advisors by 63.8% in the 4th 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. Truffle Hound Capital LLC acquired a new stake in Hennessy Advisors in the 2nd quarter worth approximately $556,000. Finally, Geode Capital Management LLC boosted its stake in Hennessy Advisors by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager's stock worth $654,000 after purchasing an additional 1,014 shares in the last quarter. 10.31% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.