Hennessy Advisors (NASDAQ:HNNA) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.05 and traded as low as $10.66. Hennessy Advisors shares last traded at $10.99, with a volume of 6,281 shares.

Hennessy Advisors Trading Up 0.2 %

The company has a current ratio of 18.29, a quick ratio of 18.29 and a debt-to-equity ratio of 0.42. The company has a market cap of $85.55 million, a price-to-earnings ratio of 9.81 and a beta of 0.83. The firm has a 50-day moving average price of $12.06 and a 200 day moving average price of $11.05.

Hennessy Advisors (NASDAQ:HNNA) last announced its quarterly earnings data on Thursday, February 13th. The asset manager reported $0.36 earnings per share (EPS) for the quarter. Hennessy Advisors had a return on equity of 9.60% and a net margin of 26.29%. The firm had revenue of $9.71 million for the quarter.

Hennessy Advisors Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date was Monday, February 24th. Hennessy Advisors’s dividend payout ratio is presently 49.11%.

Insider Buying and Selling

In related news, CFO Kathryn Fahy sold 8,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $11.07, for a total transaction of $88,560.00. Following the completion of the transaction, the chief financial officer now directly owns 74,211 shares in the company, valued at $821,515.77. This represents a 9.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas L. Seavey sold 11,074 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $11.44, for a total value of $126,686.56. Following the completion of the sale, the director now owns 70,429 shares in the company, valued at $805,707.76. The trade was a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,083 shares of company stock worth $455,875 over the last quarter. 37.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hennessy Advisors

Several institutional investors have recently modified their holdings of HNNA. Quinn Opportunity Partners LLC bought a new stake in Hennessy Advisors in the 4th quarter valued at about $139,000. Allworth Financial LP acquired a new stake in shares of Hennessy Advisors in the fourth quarter valued at approximately $336,000. Northern Trust Corp raised its holdings in shares of Hennessy Advisors by 63.8% during the fourth 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 last quarter. Geode Capital Management LLC boosted its position in shares of Hennessy Advisors by 35.5% during the third quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after buying an additional 11,877 shares during the period. Finally, Navellier & Associates Inc. bought a new position in Hennessy Advisors in the 4th quarter worth approximately $605,000. Institutional investors own 10.31% of the company’s stock.

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.