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

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-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.

Wall Street Analyst Weigh In

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

Hennessy Advisors Stock Performance

The company has a market cap of $86.42 million, a price-to-earnings ratio of 9.91 and a beta of 0.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 18.29 and a quick ratio of 18.29. The firm has a fifty day simple moving average of $10.49 and a 200 day simple moving average of $11.22.

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 business had revenue of $9.28 million during the quarter. Hennessy Advisors had a net margin of 26.29% and a return on equity of 9.60%.

Hennessy Advisors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were given a $0.1375 dividend. This represents a $0.55 annualized dividend and a dividend yield of 4.95%. The ex-dividend date was Tuesday, May 20th. Hennessy Advisors's dividend payout ratio is currently 44.00%.

Insider Buying and Selling

In other news, CFO Kathryn Fahy sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $10.71, for a total transaction of $107,100.00. Following the completion of the transaction, the chief financial officer now directly owns 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Hennessy Advisors

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Hennessy Advisors by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager's stock valued at $604,000 after purchasing an additional 2,400 shares during the period. Quinn Opportunity Partners LLC bought a new stake in shares of Hennessy Advisors in the fourth quarter valued at about $139,000. Northern Trust Corp lifted its stake in shares of Hennessy Advisors by 63.8% in the fourth quarter. Northern Trust Corp now owns 34,432 shares of the asset manager's stock valued at $439,000 after buying an additional 13,407 shares during the period. Redhawk Wealth Advisors Inc. grew its position 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 in the last quarter. Finally, Allworth Financial LP bought a new position in Hennessy Advisors during the fourth quarter valued at about $336,000. Institutional investors 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.