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

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.16 and traded as high as $12.89. Hennessy Advisors shares last traded at $12.65, with a volume of 4,281 shares changing hands.

Analysts Set New Price Targets

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

Hennessy Advisors Price Performance

The firm has a fifty day moving average of $11.16 and a two-hundred day moving average of $11.21. The company has a current ratio of 17.79, a quick ratio of 17.79 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $98.31 million, a PE ratio of 10.10 and a beta of 0.77.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The asset manager reported $0.33 earnings per share for the quarter. Hennessy Advisors had a return on equity of 10.57% and a net margin of 27.50%. The firm had revenue of $9.28 million during the quarter.

Hennessy Advisors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.1375 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.55 annualized dividend and a yield of 4.36%. Hennessy Advisors's payout ratio is 44.00%.

Insider Buying and Selling at Hennessy Advisors

In related news, CFO Kathryn Fahy sold 10,000 shares of Hennessy Advisors 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 sale, the chief financial officer directly owned 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 37.40% of the company's stock.

Institutional Trading of Hennessy Advisors

Hedge funds and other institutional investors have recently modified their holdings of the business. Quinn Opportunity Partners LLC purchased a new position in shares of Hennessy Advisors in the 4th quarter worth $139,000. Northern Trust Corp lifted its stake in shares of Hennessy Advisors by 63.8% in the 4th 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 period. Geode Capital Management LLC boosted its holdings in shares of Hennessy Advisors by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager's stock worth $604,000 after buying an additional 2,400 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Hennessy Advisors by 27.3% in 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 during the last quarter. Finally, Allworth Financial LP grew its position in Hennessy Advisors by 202.5% during the first quarter. Allworth Financial LP now owns 81,380 shares of the asset manager's stock valued at $859,000 after buying an additional 54,480 shares during the period. 10.31% of the stock is owned by hedge funds and other 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.