Hennessy Advisors (NASDAQ:HNNA) Stock Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• Hennessy Advisors' stock price has dropped below its 200-day moving average of $11.14, trading as low as $9.33, with its last reported price at $9.52.
• The company has a market capitalization of $74.10 million, a P/E ratio of 7.61, and recently announced a quarterly dividend yielding 5.8%.
• Insider trading activity shows that Director Thomas L. Seavey sold 7,704 shares, reflecting a 12.15% decrease in his position, while institutional investors have been increasing their stakes.

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report)'s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.14 and traded as low as $9.33. Hennessy Advisors shares last traded at $9.52, with a volume of 3,391 shares.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Hennessy Advisors in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Hennessy Advisors Stock Up 2.0%

The stock's 50-day moving average is $10.92 and its 200-day moving average is $11.14. The stock has a market cap of $74.10 million, a P/E ratio of 7.61 and a beta of 0.71. The company has a current ratio of 15.58, a quick ratio of 15.58 and a debt-to-equity ratio of 0.41.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The asset manager reported $0.26 earnings per share (EPS) for the quarter. Hennessy Advisors had a net margin of 27.55% and a return on equity of 10.48%.

Hennessy Advisors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.1375 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.55 annualized dividend and a dividend yield of 5.8%. Hennessy Advisors's dividend payout ratio (DPR) is 44.00%.

Insider Buying and Selling at Hennessy Advisors

In other news, Director Thomas L. Seavey sold 7,704 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $10.71, for a total transaction of $82,509.84. Following the completion of the transaction, the director owned 55,725 shares in the company, valued at approximately $596,814.75. This trade represents a 12.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 20,398 shares of company stock worth $219,216. Company insiders own 37.40% of the company's stock.

Hedge Funds Weigh In On Hennessy Advisors

Several large investors have recently made changes to their positions in the business. Allworth Financial LP boosted its position in shares of Hennessy Advisors by 202.5% during the 1st quarter. Allworth Financial LP now owns 81,380 shares of the asset manager's stock valued at $859,000 after purchasing an additional 54,480 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in Hennessy Advisors by 9.8% during the third quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager's stock valued at $791,000 after buying an additional 6,714 shares in the last quarter. Geode Capital Management LLC lifted its stake in Hennessy Advisors by 2.0% during the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager's stock valued at $654,000 after buying an additional 1,014 shares in the last quarter. Truffle Hound Capital LLC purchased a new stake in Hennessy Advisors during the second quarter valued at about $556,000. Finally, Bridgeway Capital Management LLC lifted its stake in Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager's stock valued at $215,000 after buying an additional 1,072 shares in the last quarter. Institutional investors own 10.31% of the company's stock.

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.

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