Hennessy Advisors (NASDAQ:HNNA) Share Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• Hennessy Advisors shares rose above their 50‑day moving average
• The firm raised its quarterly dividend to $0.15 (annualized $0.60), yielding about 6.1% with a dividend payout ratio of 52.63%.
• Analysts maintain an average Hold rating (Weiss Ratings restated "hold (c+)"); the company is small‑cap (market cap ≈ $78.15M) with a PE of 8.69 and reported $0.24 EPS on $8.32M revenue last quarter.

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 $9.84 and traded as high as $9.95. Hennessy Advisors shares last traded at $9.9050, with a volume of 1,902 shares.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Hennessy Advisors in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Hennessy Advisors Trading Down 1.0%

The company has a market capitalization of $78.15 million, a PE ratio of 8.69 and a beta of 0.65. The firm has a fifty day moving average of $9.84 and a two-hundred day moving average of $9.91.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last issued its earnings results on Thursday, February 5th. The asset manager reported $0.24 earnings per share for the quarter. The company had revenue of $8.32 million during the quarter. Hennessy Advisors had a return on equity of 9.33% and a net margin of 26.52%.

Hennessy Advisors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 18th. This represents a $0.60 annualized dividend and a yield of 6.1%. This is a boost from Hennessy Advisors's previous quarterly dividend of $0.14. Hennessy Advisors's dividend payout ratio (DPR) is currently 52.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC raised its position in Hennessy Advisors by 14.6% during the 4th quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager's stock valued at $127,000 after purchasing an additional 1,678 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Hennessy Advisors during the 2nd quarter valued at approximately $190,000. Bridgeway Capital Management LLC raised its position in Hennessy Advisors by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager's stock valued at $215,000 after purchasing an additional 1,072 shares during the last quarter. Citadel Advisors LLC bought a new position in Hennessy Advisors during the 3rd quarter valued at approximately $218,000. Finally, Susquehanna International Group LLP raised its position in Hennessy Advisors by 108.5% during the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager's stock valued at $280,000 after purchasing an additional 13,819 shares during the last quarter. Institutional investors own 10.31% of the company's stock.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm's product lineup includes multiple closed-end funds that invest in U.S.

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