Hennessy Advisors (NASDAQ:HNNA) Stock Price Passes Below 200 Day Moving Average of $6.96

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.96 and traded as low as $6.38. Hennessy Advisors shares last traded at $6.44, with a volume of 7,986 shares traded.

Hennessy Advisors Price Performance

The firm has a market cap of $48.82 million, a price-to-earnings ratio of 10.06 and a beta of 0.88. The company’s fifty day moving average is $6.67 and its 200 day moving average is $6.96. The company has a quick ratio of 17.86, a current ratio of 17.86 and a debt-to-equity ratio of 0.45.

Hennessy Advisors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be paid a $0.138 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.55 dividend on an annualized basis and a yield of 8.57%. This is a boost from Hennessy Advisors’s previous quarterly dividend of $0.14. Hennessy Advisors’s dividend payout ratio (DPR) is currently 85.94%.

Insiders Place Their Bets

In other news, insider Rodger Offenbach sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $6.72, for a total transaction of $67,200.00. Following the completion of the sale, the insider now owns 105,573 shares in the company, valued at approximately $709,450.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 37.70% of the company’s stock.

Institutional Investors Weigh In On Hennessy Advisors

A number of institutional investors have recently modified their holdings of HNNA. Vanguard Group Inc. grew its position in Hennessy Advisors by 0.6% during the first quarter. Vanguard Group Inc. now owns 201,412 shares of the asset manager’s stock worth $2,040,000 after buying an additional 1,148 shares in the last quarter. Aegis Financial Corp boosted its holdings in shares of Hennessy Advisors by 111.9% in the 3rd quarter. Aegis Financial Corp now owns 141,353 shares of the asset manager’s stock valued at $947,000 after purchasing an additional 74,636 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Hennessy Advisors by 5.6% in the 2nd quarter. Renaissance Technologies LLC now owns 85,825 shares of the asset manager’s stock valued at $606,000 after purchasing an additional 4,550 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in Hennessy Advisors in the second quarter valued at about $123,000. Finally, BlackRock Inc. raised its stake in Hennessy Advisors by 30.1% during the second quarter. BlackRock Inc. now owns 13,733 shares of the asset manager’s stock worth $97,000 after acquiring an additional 3,178 shares in the last quarter. Institutional investors 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.