Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.96 and traded as low as $9.86. Hennessy Advisors shares last traded at $10.07, with a volume of 5,499 shares changing hands.
Wall Street Analyst Weigh In
Separately, Weiss Ratings downgraded Hennessy Advisors from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".
Get Our Latest Report on HNNA
Hennessy Advisors Price Performance
The company has a market capitalization of $79.59 million, a price-to-earnings ratio of 9.68 and a beta of 0.59. The firm has a 50-day moving average price of $9.99 and a two-hundred day moving average price of $9.96.
Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The asset manager reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.12). The firm had revenue of $8.39 million during the quarter, compared to analyst estimates of $9.96 million. Hennessy Advisors had a net margin of 24.77% and a return on equity of 8.31%.
Hennessy Advisors Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.15 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.0%. Hennessy Advisors's dividend payout ratio (DPR) is 57.69%.
Institutional Trading of Hennessy Advisors
A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Hennessy Advisors by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 49,110 shares of the asset manager's stock valued at $471,000 after purchasing an additional 1,282 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Hennessy Advisors in the 3rd quarter valued at $218,000. Bridgeway Capital Management LLC lifted its position in Hennessy Advisors by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager's stock worth $215,000 after buying an additional 1,072 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in Hennessy Advisors during the 2nd quarter worth about $190,000. Finally, Empowered Funds LLC boosted its stake in shares of Hennessy Advisors by 14.6% during the 4th quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager's stock worth $127,000 after buying an additional 1,678 shares during the last quarter. Institutional investors own 10.31% of the company's stock.
About Hennessy Advisors
(
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Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.
The firm's product lineup includes multiple closed-end funds that invest in U.S.
Further Reading
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