Hennessy Advisors (NASDAQ:HNNA) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $9.84 and traded as low as $9.70. Hennessy Advisors shares last traded at $9.95, with a volume of 3,157 shares trading hands.

Wall Street Analyst Weigh In

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

Hennessy Advisors Stock Performance

The business’s fifty day simple moving average is $9.85 and its 200-day simple moving average is $10.84. The firm has a market cap of $78.19 million, a P/E ratio of 7.87 and a beta of 0.64. The company has a current ratio of 12.73, a quick ratio of 12.72 and a debt-to-equity ratio of 0.41.

Hennessy Advisors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Wednesday, November 12th. Hennessy Advisors’s dividend payout ratio (DPR) is currently 43.65%.

Institutional Investors Weigh In On Hennessy Advisors

Large investors have recently modified their holdings of the stock. 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 valued at $654,000 after purchasing an additional 1,014 shares in the last quarter. Bridgeway Capital Management LLC lifted its position 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 valued at $215,000 after buying an additional 1,072 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Hennessy Advisors by 1.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 68,600 shares of the asset manager’s stock valued at $864,000 after buying an additional 1,204 shares in the last quarter. Susquehanna International Group LLP boosted its holdings 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 valued at $280,000 after buying an additional 13,819 shares in the last quarter. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Hennessy Advisors in the 2nd quarter worth about $190,000. Institutional investors own 10.31% of the company’s stock.

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.