Hennessy Advisors (NASDAQ:HNNA) Stock Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Shares of Hennessy Advisors (NASDAQ:HNNA) recently crossed above its 50-day moving average of $11.95, trading at a high of $12.30.
• The company reported a net margin of 27.55% and a quarterly dividend of $0.1375, yielding 4.6% annually.
• Hedge funds have been active, with notable increases in stakes from firms like Bridgeway Capital Management and Northern Trust Corp.

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.95 and traded as high as $12.30. Hennessy Advisors shares last traded at $11.84, with a volume of 7,366 shares traded.

Analysts Set New Price Targets

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

Hennessy Advisors Trading Up 2.1%

The company has a debt-to-equity ratio of 0.41, a current ratio of 15.58 and a quick ratio of 15.58. The business's 50-day moving average price is $11.95 and its two-hundred day moving average price is $11.14. The company has a market capitalization of $92.17 million, a price-to-earnings ratio of 9.47 and a beta of 0.75.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The asset manager reported $0.26 earnings per share for the quarter. Hennessy Advisors had a net margin of 27.55% and a return on equity of 10.48%.

Hennessy Advisors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th were given a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Wednesday, August 20th. Hennessy Advisors's payout ratio is presently 44.00%.

Insider Buying and Selling at Hennessy Advisors

In related news, Director Thomas L. Seavey sold 2,603 shares of Hennessy Advisors stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $10.63, for a total value of $27,669.89. Following the transaction, the director directly owned 50,424 shares of the company's stock, valued at $536,007.12. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 20,005 shares of company stock valued at $214,998 in the last three months. 37.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Evergreen Capital Management LLC bought a new position in Hennessy Advisors in the second quarter valued at approximately $190,000. Bridgeway Capital Management LLC increased its stake in Hennessy Advisors by 6.7% in the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager's stock valued at $215,000 after acquiring an additional 1,072 shares during the last quarter. Northern Trust Corp increased 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 valued at $439,000 after acquiring an additional 13,407 shares during the last quarter. Truffle Hound Capital LLC bought a new position in Hennessy Advisors in the second quarter valued at approximately $556,000. Finally, Geode Capital Management LLC increased its stake in Hennessy Advisors by 2.0% in the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager's stock valued at $654,000 after acquiring an additional 1,014 shares during the last quarter. 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.

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