Hennessy Advisors (NASDAQ:HNNA) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Hennessy Advisors, Inc. (NASDAQ:HNNA) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.91 and traded as low as $9.86. Hennessy Advisors shares last traded at $9.86, with a volume of 3,833 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hennessy Advisors in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Hennessy Advisors Price Performance

The company has a market capitalization of $77.80 million, a PE ratio of 8.65 and a beta of 0.64. The business’s 50 day simple moving average is $9.91 and its 200 day simple moving average is $10.32.

Hennessy Advisors (NASDAQ:HNNA) last posted its quarterly earnings results on Thursday, February 5th. The asset manager reported $0.24 earnings per share for the quarter. The business had revenue of $8.32 million during the quarter. Hennessy Advisors had a net margin of 26.52% and a return on equity of 9.33%.

Hennessy Advisors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th will be given a $0.15 dividend. This is an increase from Hennessy Advisors’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Wednesday, February 18th. Hennessy Advisors’s dividend payout ratio (DPR) is presently 52.63%.

Institutional Trading of Hennessy Advisors

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC raised its holdings in Hennessy Advisors by 14.6% in the 4th quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock valued at $127,000 after buying an additional 1,678 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of Hennessy Advisors during the second quarter valued at about $190,000. Bridgeway Capital Management LLC raised its stake in shares of Hennessy Advisors by 9.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 20,192 shares of the asset manager’s stock valued at $194,000 after acquiring an additional 1,678 shares during the period. Citadel Advisors LLC acquired a new position in shares of Hennessy Advisors in the 3rd quarter worth approximately $218,000. Finally, Susquehanna International Group LLP boosted its position in shares of 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 during the period. 10.31% of the stock is owned by institutional investors and hedge funds.

About Hennessy Advisors

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.