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 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.94 and traded as high as $12.79. Hennessy Advisors shares last traded at $12.49, with a volume of 9,618 shares traded.

Wall Street Analyst Weigh In

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

Hennessy Advisors Stock Up 0.7%

The company has a quick ratio of 17.79, a current ratio of 17.79 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $97.30 million, a price-to-earnings ratio of 9.99 and a beta of 0.79. The stock’s fifty day moving average price is $11.94 and its 200-day moving average price is $11.26.

Hennessy Advisors (NASDAQ:HNNA) last released its earnings results on Wednesday, May 7th. The asset manager reported $0.33 earnings per share for the quarter. Hennessy Advisors had a net margin of 27.50% and a return on equity of 10.57%. The business had revenue of $9.28 million during the quarter.

Hennessy Advisors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th were given 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 dividend yield of 4.4%. Hennessy Advisors’s payout ratio is currently 44.00%.

Insider Activity

In related news, CFO Kathryn Fahy sold 10,000 shares of the company’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 sale, the chief financial officer owned 64,211 shares in the company, valued at approximately $687,699.81. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 37.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HNNA. Quinn Opportunity Partners LLC bought a new stake in shares of Hennessy Advisors during the 4th quarter worth approximately $139,000. Northern Trust Corp increased its holdings in 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 buying an additional 13,407 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 buying an additional 2,400 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its position in Hennessy Advisors by 27.3% during the first quarter. Redhawk Wealth Advisors Inc. now owns 67,396 shares of the asset manager’s stock worth $671,000 after acquiring an additional 14,460 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Hennessy Advisors by 202.5% in the first quarter. Allworth Financial LP now owns 81,380 shares of the asset manager’s stock valued at $859,000 after acquiring an additional 54,480 shares during the last quarter. Institutional investors and hedge funds 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.