Hennessy Advisors (NASDAQ:HNNA) Share Price Passes Below 200 Day Moving Average – Should You Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price crossed 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 Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Hennessy Advisors from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Hennessy Advisors Price Performance

The company has a fifty day moving average of $10.04 and a two-hundred day moving average of $9.99. The stock has a market capitalization of $77.48 million, a P/E ratio of 9.34 and a beta of 0.58.

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

Hennessy Advisors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Thursday, May 21st. Hennessy Advisors’s payout ratio is currently 57.14%.

Insiders Place Their Bets

In other Hennessy Advisors news, CFO Kathryn Fahy sold 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the sale, the chief financial officer owned 60,689 shares in the company, valued at $606,890. The trade was a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 36.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hennessy Advisors

Several institutional investors and hedge funds have recently bought and sold shares of the business. Truffle Hound Capital LLC lifted its holdings in Hennessy Advisors by 6.1% in the fourth quarter. Truffle Hound Capital LLC now owns 160,000 shares of the asset manager’s stock worth $1,536,000 after acquiring an additional 9,143 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Hennessy Advisors by 4.9% during the first quarter. Renaissance Technologies LLC now owns 100,088 shares of the asset manager’s stock valued at $976,000 after purchasing an additional 4,699 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Hennessy Advisors by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 56,478 shares of the asset manager’s stock worth $542,000 after purchasing an additional 1,873 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Hennessy Advisors by 7.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 52,677 shares of the asset manager’s stock worth $514,000 after purchasing an additional 3,567 shares during the period. Finally, Susquehanna International Group LLP lifted its holdings in shares of Hennessy Advisors by 108.5% in 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 during the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

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.