Hennessy Advisors (NASDAQ:HNNA) Stock Crosses Below 50-Day Moving Average – Time to Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-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 equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Hennessy Advisors Stock Down 0.9%

The business has a fifty day moving average of $9.91 and a 200 day moving average of $10.32. The firm has a market cap of $77.80 million, a P/E ratio of 8.65 and a beta of 0.64.

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

Hennessy Advisors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.15 per share. 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 is presently 52.63%.

Institutional Investors Weigh In On Hennessy Advisors

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Hennessy Advisors by 2.0% during the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock worth $654,000 after purchasing an additional 1,014 shares in the last quarter. Truffle Hound Capital LLC acquired a new stake in Hennessy Advisors during the 2nd quarter worth $556,000. Bridgeway Capital Management LLC lifted its holdings in Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after acquiring an additional 1,072 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in Hennessy Advisors in the second quarter valued at about $190,000. Finally, Redhawk Wealth Advisors Inc. increased its holdings in shares of Hennessy Advisors by 9.8% in the third quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager’s stock worth $791,000 after acquiring an additional 6,714 shares in the last quarter. 10.31% of the stock is currently owned by institutional investors and hedge funds.

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.