Hennessy Advisors (NASDAQ:HNNA) Stock Price Passes Below 200-Day Moving Average of $7.39

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.39 and traded as low as $6.66. Hennessy Advisors shares last traded at $6.71, with a volume of 29,453 shares.

Hennessy Advisors Trading Down 2.7 %

The company’s 50 day moving average price is $7.06 and its 200 day moving average price is $7.39. The firm has a market cap of $50.82 million, a PE ratio of 10.48 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 17.86 and a quick ratio of 17.86.

Hennessy Advisors (NASDAQ:HNNA) last released its earnings results on Wednesday, August 2nd. The asset manager reported $0.15 earnings per share (EPS) for the quarter. Hennessy Advisors had a return on equity of 5.53% and a net margin of 19.81%. The firm had revenue of $5.70 million during the quarter.

Hennessy Advisors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Wednesday, August 23rd were issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 8.20%. The ex-dividend date was Tuesday, August 22nd. Hennessy Advisors’s dividend payout ratio is currently 85.94%.

Hedge Funds Weigh In On Hennessy Advisors

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Hennessy Advisors by 0.6% in the first quarter. Vanguard Group Inc. now owns 201,412 shares of the asset manager’s stock valued at $2,040,000 after purchasing an additional 1,148 shares during the last quarter. Advisor Group Holdings Inc. increased its position in Hennessy Advisors by 65.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,550 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 1,800 shares during the period. Bank of America Corp DE lifted its stake in shares of Hennessy Advisors by 30.0% in the 1st quarter. Bank of America Corp DE now owns 13,652 shares of the asset manager’s stock worth $106,000 after acquiring an additional 3,151 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Hennessy Advisors during the 2nd quarter valued at $71,000. Finally, Aegis Financial Corp bought a new position in shares of Hennessy Advisors during the 2nd quarter valued at about $471,000. Institutional investors and hedge funds own 8.64% 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.