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

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.10 and traded as low as $10.64. Hennessy Advisors shares last traded at $11.00, with a volume of 2,615 shares.

Hennessy Advisors Trading Up 0.9 %

The business's fifty day moving average price is $10.29 and its 200 day moving average price is $11.13. The firm has a market capitalization of $83.99 million, a PE ratio of 9.63 and a beta of 0.74. The company has a quick ratio of 18.29, a current ratio of 18.29 and a debt-to-equity ratio of 0.42.

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

Hennessy Advisors Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a $0.1375 dividend. This represents a $0.55 annualized dividend and a dividend yield of 5.10%. The ex-dividend date was Monday, February 24th. Hennessy Advisors's dividend payout ratio (DPR) is currently 49.11%.

Insider Activity at Hennessy Advisors

In other Hennessy Advisors news, CFO Kathryn Fahy sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $11.07, for a total transaction of $88,560.00. Following the completion of the sale, the chief financial officer now directly owns 74,211 shares in the company, valued at $821,515.77. The trade was a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in Hennessy Advisors by 202.5% in the 1st quarter. Allworth Financial LP now owns 81,380 shares of the asset manager's stock worth $859,000 after buying an additional 54,480 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in Hennessy Advisors by 27.3% in the first quarter. Redhawk Wealth Advisors Inc. now owns 67,396 shares of the asset manager's stock valued at $671,000 after buying an additional 14,460 shares during the last quarter. Perigon Wealth Management LLC raised its stake 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 valued at $778,000 after buying an additional 15,882 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Hennessy Advisors by 5.3% during the 4th 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 during the last quarter. Finally, Navellier & Associates Inc. acquired a new stake in shares of Hennessy Advisors during the 4th quarter valued at approximately $605,000. 10.31% of the stock is owned by hedge funds and other institutional investors.

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.