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

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.24 and traded as high as $10.43. Hennessy Advisors shares last traded at $10.71, with a volume of 436 shares changing hands.

Analyst Ratings Changes

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

Hennessy Advisors Price Performance

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 company's 50-day simple moving average is $10.25 and its 200-day simple moving average is $11.17. The company has a market cap of $84.63 million, a price-to-earnings ratio of 9.71 and a beta of 0.74.

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

Hennessy Advisors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Tuesday, May 20th. Hennessy Advisors's payout ratio is currently 44.00%.

Insider Transactions at Hennessy Advisors

In other news, CFO Kathryn Fahy sold 10,000 shares of the firm's stock in a transaction that occurred 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. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 37.40% of the company's stock.

Hedge Funds Weigh In On Hennessy Advisors

Large investors have recently added to or reduced their stakes in the company. Quinn Opportunity Partners LLC bought a new position in Hennessy Advisors during the fourth quarter worth $139,000. Allworth Financial LP bought a new position in Hennessy Advisors during the fourth quarter worth $336,000. Northern Trust Corp lifted its stake in 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 purchasing an additional 13,407 shares during the last quarter. Navellier & Associates Inc. bought a new position in Hennessy Advisors during the fourth quarter worth $605,000. Finally, Geode Capital Management LLC lifted its stake in 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 last quarter. 10.31% of the stock is currently owned by institutional investors.

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.