Hennessy Advisors (NASDAQ:HNNA) Stock Crosses Below Two Hundred Day Moving Average - Should You Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.24 and traded as low as $10.86. Hennessy Advisors shares last traded at $11.45, with a volume of 7,672 shares traded.

Analysts Set New Price Targets

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

Hennessy Advisors Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 17.79 and a current ratio of 17.79. The stock has a market cap of $91.22 million, a PE ratio of 9.37 and a beta of 0.73. The firm has a fifty day moving average price of $10.73 and a 200 day moving average price of $11.21.

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

Hennessy Advisors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were issued a $0.1375 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.70%. Hennessy Advisors's dividend payout ratio is currently 44.00%.

Insider Transactions at Hennessy Advisors

In other Hennessy Advisors 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 transaction, the chief financial officer now directly owns 64,211 shares of the company's stock, valued at approximately $687,699.81. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 37.40% of the company's stock.

Institutional Trading of Hennessy Advisors

Large investors have recently made changes to their positions in the business. Allworth Financial LP raised its holdings in shares of Hennessy Advisors by 202.5% during the first quarter. Allworth Financial LP now owns 81,380 shares of the asset manager's stock worth $859,000 after purchasing an additional 54,480 shares during the last quarter. Navellier & Associates Inc. purchased a new position in shares of Hennessy Advisors during the 4th quarter valued at about $605,000. Redhawk Wealth Advisors Inc. raised its stake in shares of Hennessy Advisors by 27.3% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 67,396 shares of the asset manager's stock valued at $671,000 after buying an additional 14,460 shares during the last quarter. Northern Trust Corp lifted its holdings 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 valued at $439,000 after buying an additional 13,407 shares during the period. Finally, Quinn Opportunity Partners LLC purchased a new stake in shares of Hennessy Advisors in the fourth quarter worth about $139,000. 10.31% of the stock is owned by hedge funds and other 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.