Hennessy Advisors (NASDAQ:HNNA) Shares Pass Below 200 Day Moving Average – Time to Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.21 and traded as low as $10.80. Hennessy Advisors shares last traded at $11.00, with a volume of 13,334 shares.

Analysts Set New Price Targets

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

Hennessy Advisors Stock Performance

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 stock’s 50 day moving average price is $10.35 and its two-hundred day moving average price is $11.21. The firm has a market capitalization of $85.65 million, a PE ratio of 9.82 and a beta of 0.73.

Hennessy Advisors (NASDAQ:HNNA) last issued its quarterly earnings results on Wednesday, May 7th. The asset manager reported $0.33 EPS for the quarter. The business had revenue of $9.28 million during the quarter. Hennessy Advisors had a net margin of 26.29% and a return on equity of 9.60%.

Hennessy Advisors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors 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 yield of 5.00%. Hennessy Advisors’s payout ratio is 44.00%.

Insider Activity

In other news, CFO Kathryn Fahy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $10.71, for a total transaction of $107,100.00. Following the completion of the sale, the chief financial officer now owns 64,211 shares in the company, valued at approximately $687,699.81. The trade was a 13.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Hennessy Advisors

Several institutional investors have recently bought and sold shares of HNNA. Quinn Opportunity Partners LLC purchased a new stake in Hennessy Advisors during the fourth quarter worth approximately $139,000. Allworth Financial LP purchased a new stake in Hennessy Advisors during the 4th quarter worth $336,000. Northern Trust Corp boosted its position in Hennessy Advisors by 63.8% during 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 position in Hennessy Advisors by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager’s stock worth $604,000 after purchasing an additional 2,400 shares during the period. Finally, Navellier & Associates Inc. purchased a new stake in Hennessy Advisors during the 4th quarter worth $605,000. 10.31% of the stock is currently 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.