Hennessy Advisors (NASDAQ:HNNA) Stock Passes Above Fifty Day Moving Average of $6.79

Hennessy Advisors, Inc. (NASDAQ:HNNAGet Free Report)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $6.79 and traded as high as $6.98. Hennessy Advisors shares last traded at $6.98, with a volume of 2,588 shares traded.

Hennessy Advisors Stock Performance

The company has a market cap of $53.61 million, a P/E ratio of 11.08 and a beta of 0.80. The company has a 50 day moving average price of $6.79 and a 200-day moving average price of $6.72. The company has a quick ratio of 22.62, a current ratio of 22.62 and a debt-to-equity ratio of 0.45.

Hennessy Advisors (NASDAQ:HNNAGet Free Report) last announced its earnings results on Thursday, February 8th. The asset manager reported $0.16 earnings per share for the quarter. Hennessy Advisors had a return on equity of 5.54% and a net margin of 20.20%. The business had revenue of $6.14 million during the quarter.

Hennessy Advisors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Tuesday, February 20th were paid a dividend of $0.138 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.55 annualized dividend and a yield of 7.91%. Hennessy Advisors’s dividend payout ratio is currently 87.30%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HNNA. Vanguard Group Inc. boosted its stake in Hennessy Advisors by 0.6% during the first quarter. Vanguard Group Inc. now owns 201,412 shares of the asset manager’s stock valued at $2,040,000 after buying an additional 1,148 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of 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 purchasing an additional 1,800 shares during the period. Bank of America Corp DE boosted its position 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 valued at $106,000 after purchasing an additional 3,151 shares during the period. Osaic Holdings Inc. boosted its position in shares of Hennessy Advisors by 150.0% in the 2nd quarter. Osaic Holdings Inc. now owns 12,500 shares of the asset manager’s stock valued at $88,000 after purchasing an additional 7,500 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Hennessy Advisors by 30.1% in the 2nd quarter. BlackRock Inc. now owns 13,733 shares of the asset manager’s stock valued at $97,000 after purchasing an additional 3,178 shares during the period. Institutional investors own 10.31% of the company’s stock.

Hennessy Advisors Company Profile

(Get Free Report)

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.

Further Reading

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