Hennessy Advisors (NASDAQ:HNNA) Stock Price Passes Above 50-Day Moving Average - Time to Sell?

Key Points

• Hennessy Advisors' share price crossed above its fifty-day moving average of $11.94, trading at a high of $12.79 during recent trading, and last at $12.49 with a volume of 9,618 shares.
• The company announced a quarterly dividend of $0.1375 per share, representing an annualized dividend of $0.55 with a yield of 4.4%.
• Wall Street Zen upgraded Hennessy Advisors to a "buy" rating, indicating positive sentiment among analysts following the company's latest earnings report of $0.33 EPS for the quarter.

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.94 and traded as high as $12.79. Hennessy Advisors shares last traded at $12.49, with a volume of 9,618 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Hennessy Advisors to a "buy" rating in a report on Thursday, May 22nd.

Hennessy Advisors Price Performance

The stock has a market cap of $91.92 million, a P/E ratio of 9.44 and a beta of 0.79. The firm has a 50-day moving average price of $12.04 and a 200-day moving average price of $11.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 17.79 and a current ratio of 17.79.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The asset manager reported $0.26 EPS for the quarter. Hennessy Advisors had a net margin of 27.55% and a return on equity of 10.57%.

Hennessy Advisors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th will be given a $0.1375 dividend. This represents a $0.55 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, August 20th. Hennessy Advisors's payout ratio is presently 44.00%.

Insider Activity at Hennessy Advisors

In other news, CFO Kathryn Fahy sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $10.71, for a total value of $107,100.00. Following the transaction, the chief financial officer directly owned 64,211 shares in the company, valued at $687,699.81. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Hennessy Advisors

Large investors have recently added to or reduced their stakes in the stock. Quinn Opportunity Partners LLC bought a new stake in Hennessy Advisors during the fourth quarter worth approximately $139,000. Northern Trust Corp grew its stake in Hennessy Advisors by 63.8% in the fourth 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. Geode Capital Management LLC grew its stake in Hennessy Advisors by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager's stock worth $604,000 after purchasing an additional 2,400 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in Hennessy Advisors by 27.3% during the first quarter. Redhawk Wealth Advisors Inc. now owns 67,396 shares of the asset manager's stock worth $671,000 after buying an additional 14,460 shares during the period. Finally, Allworth Financial LP lifted its holdings in Hennessy Advisors by 202.5% during the first 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 during the period. 10.31% of the stock is 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.