Hennessy Advisors (NASDAQ:HNNA) Share Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.21 and traded as low as $10.80. Hennessy Advisors shares last traded at $11.00, with a volume of 13,334 shares changing hands.

Analyst Ratings Changes

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

Hennessy Advisors Price Performance

The company has a quick ratio of 18.29, a current ratio of 18.29 and a debt-to-equity ratio of 0.42. The stock's 50-day moving average price is $10.35 and its 200-day moving average price is $11.21. The company has a market capitalization of $86.77 million, a price-to-earnings ratio of 9.95 and a beta of 0.73.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The asset manager reported $0.33 earnings per share (EPS) for the quarter. The firm had revenue of $9.28 million for the quarter. Hennessy Advisors had a return on equity of 9.60% and a net margin of 26.29%.

Hennessy Advisors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th were given a $0.1375 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.55 dividend on an annualized basis and a yield of 4.93%. Hennessy Advisors's payout ratio is 44.00%.

Insiders Place Their Bets

In other Hennessy Advisors news, CFO Kathryn Fahy sold 10,000 shares of Hennessy Advisors stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $10.71, for a total transaction of $107,100.00. Following the completion of the sale, the chief financial officer now owns 64,211 shares of the company's stock, valued at approximately $687,699.81. The trade was a 13.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 37.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Hennessy Advisors by 5.3% during 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 during the period. Quinn Opportunity Partners LLC bought a new position in Hennessy Advisors during the fourth quarter worth about $139,000. Northern Trust Corp grew its position in shares of Hennessy Advisors by 63.8% during the 4th quarter. Northern Trust Corp now owns 34,432 shares of the asset manager's stock worth $439,000 after buying an additional 13,407 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in shares of Hennessy Advisors by 27.3% in the 1st quarter. Redhawk Wealth Advisors Inc. now owns 67,396 shares of the asset manager's stock valued at $671,000 after acquiring an additional 14,460 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in shares of Hennessy Advisors in the 4th quarter valued at about $336,000. 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.