Hennessy Advisors (NASDAQ:HNNA) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.23 and traded as high as $10.90. Hennessy Advisors shares last traded at $10.54, with a volume of 12,887 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Hennessy Advisors in a research note on Wednesday, May 14th. They set a “buy” rating on the stock.

Hennessy Advisors Stock Down 0.6%

The company has a market capitalization of $82.06 million, a price-to-earnings ratio of 9.41 and a beta of 0.74. The firm’s 50 day moving average price is $10.23 and its two-hundred day moving average price is $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 released its quarterly earnings data on Wednesday, May 7th. The asset manager reported $0.33 earnings per share for the quarter. The company had revenue of $9.28 million for the quarter. Hennessy Advisors had a net margin of 26.29% and a return on equity of 9.60%.

Hennessy Advisors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend is Tuesday, May 20th. Hennessy Advisors’s payout ratio is 44.00%.

Insider Buying and Selling

In related news, CFO Kathryn Fahy sold 8,000 shares of Hennessy Advisors stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $11.07, for a total transaction of $88,560.00. Following the completion of the sale, the chief financial officer now owns 74,211 shares of the company’s stock, valued at approximately $821,515.77. The trade was a 9.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 18,575 shares of company stock valued at $201,709. Company insiders own 37.40% of the company’s stock.

Institutional Trading of Hennessy Advisors

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quinn Opportunity Partners LLC bought a new stake in shares of Hennessy Advisors during the 4th quarter worth about $139,000. Allworth Financial LP bought a new stake in Hennessy Advisors in the 4th quarter valued at about $336,000. Northern Trust Corp boosted its holdings in 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 purchasing an additional 13,407 shares during the period. Geode Capital Management LLC boosted its holdings in Hennessy Advisors by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager’s stock valued at $604,000 after purchasing an additional 2,400 shares during the period. Finally, Navellier & Associates Inc. bought a new stake in Hennessy Advisors in the 4th quarter valued at about $605,000. 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.