Hennessy Advisors (NASDAQ:HNNA) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Hennessy Advisors, Inc. (NASDAQ:HNNA) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.99 and traded as low as $9.75. Hennessy Advisors shares last traded at $9.8080, with a volume of 9,463 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Hennessy Advisors from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Hennessy Advisors Trading Up 0.1%

The stock’s 50-day moving average is $10.03 and its 200-day moving average is $9.98. The firm has a market capitalization of $77.66 million, a price-to-earnings ratio of 9.36 and a beta of 0.58.

Hennessy Advisors (NASDAQ:HNNA) last issued its quarterly earnings data on Wednesday, May 6th. The asset manager reported $0.24 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.09). The company had revenue of $8.13 million during the quarter, compared to the consensus estimate of $9.61 million. Hennessy Advisors had a net margin of 25.40% and a return on equity of 8.53%.

Hennessy Advisors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.60 annualized dividend and a dividend yield of 6.1%. Hennessy Advisors’s dividend payout ratio (DPR) is 57.14%.

Insiders Place Their Bets

In other news, CFO Kathryn Fahy sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the sale, the chief financial officer directly owned 60,689 shares in the company, valued at $606,890. This trade represents a 14.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Empowered Funds LLC increased its position in shares of Hennessy Advisors by 14.6% during the fourth quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock worth $127,000 after acquiring an additional 1,678 shares in the last quarter. Evergreen Capital Management LLC bought a new position in Hennessy Advisors in the 2nd quarter valued at about $190,000. Bridgeway Capital Management LLC boosted its stake in Hennessy Advisors by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock valued at $215,000 after purchasing an additional 1,072 shares during the last quarter. Citadel Advisors LLC acquired a new position in Hennessy Advisors during the 3rd quarter valued at about $218,000. Finally, Susquehanna International Group LLP increased its holdings in Hennessy Advisors by 108.5% during the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock worth $280,000 after purchasing an additional 13,819 shares in the last quarter. 10.31% of the stock is owned by institutional investors.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.