Hennessy Advisors (NASDAQ:HNNA) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $10.25 and traded as high as $10.98. Hennessy Advisors shares last traded at $10.74, with a volume of 14,144 shares traded.

Hennessy Advisors Price Performance

The company has a market cap of $83.62 million, a price-to-earnings ratio of 9.59 and a beta of 0.74. The company has a fifty day moving average price of $10.25 and a two-hundred day moving average price of $11.15. The company has a current ratio of 18.29, a quick ratio of 18.29 and a debt-to-equity ratio of 0.42.

Hennessy Advisors (NASDAQ:HNNA) last announced 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 for the quarter. Hennessy Advisors had a return on equity of 9.60% and a net margin of 26.29%.

Hennessy Advisors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be paid a $0.1375 dividend. This represents a $0.55 annualized dividend and a yield of 5.12%. The ex-dividend date is Tuesday, May 20th. Hennessy Advisors’s dividend payout ratio is 44.00%.

Insider Activity at Hennessy Advisors

In other Hennessy Advisors news, CFO Kathryn Fahy sold 8,000 shares of Hennessy Advisors stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $11.07, for a total value of $88,560.00. Following the completion of the transaction, the chief financial officer now owns 74,211 shares in the company, valued at approximately $821,515.77. The trade was a 9.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 37.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Hennessy Advisors

Several institutional investors have recently bought and sold shares of the business. Redhawk Wealth Advisors Inc. raised its position in Hennessy Advisors by 1.7% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager’s stock valued at $671,000 after purchasing an additional 875 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Hennessy Advisors by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager’s stock worth $604,000 after acquiring an additional 2,400 shares during the last quarter. Quinn Opportunity Partners LLC bought a new stake in shares of Hennessy Advisors during the fourth quarter worth $139,000. Northern Trust Corp raised its position 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 worth $439,000 after acquiring an additional 13,407 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its position in shares of Hennessy Advisors by 33.1% during the fourth quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock worth $778,000 after acquiring an additional 15,882 shares during 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.