Hennessy Advisors (NASDAQ:HNNA) Share Price Crosses Below 200 Day Moving Average - Time to Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.08 and traded as low as $9.73. Hennessy Advisors shares last traded at $9.76, with a volume of 9,661 shares traded.

Hennessy Advisors Stock Up 6.1 %

The firm has a market capitalization of $85.55 million, a price-to-earnings ratio of 9.81 and a beta of 0.71. The stock has a 50 day moving average of $10.40 and a 200 day moving average of $11.09. 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 posted its quarterly earnings results on Thursday, February 13th. The asset manager reported $0.36 EPS for the quarter. The business had revenue of $9.71 million during the quarter. Hennessy Advisors had a return on equity of 9.60% and a net margin of 26.29%.

Hennessy Advisors Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a $0.1375 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.55 dividend on an annualized basis and a yield of 5.00%. Hennessy Advisors's dividend payout ratio (DPR) is 49.11%.

Insider Buying and Selling

In other Hennessy Advisors news, CFO Kathryn Fahy sold 8,000 shares of Hennessy Advisors stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $11.07, for a total value of $88,560.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 37.40% of the company's stock.

Hedge Funds Weigh In On Hennessy Advisors

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quinn Opportunity Partners LLC acquired a new position in shares of Hennessy Advisors during the fourth quarter worth approximately $139,000. Allworth Financial LP acquired a new position in shares of Hennessy Advisors during the fourth quarter worth approximately $336,000. Northern Trust Corp boosted its position in shares of Hennessy Advisors by 63.8% during the fourth 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. Geode Capital Management LLC boosted its position in shares of Hennessy Advisors by 35.5% during the third quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager's stock worth $452,000 after buying an additional 11,877 shares during the period. Finally, Navellier & Associates Inc. acquired a new position in shares of Hennessy Advisors during the fourth quarter worth approximately $605,000. 10.31% of the stock is currently owned by institutional investors and hedge funds.

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.