Hennessy Advisors (NASDAQ:HNNA) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.78 and traded as low as $10.22. Hennessy Advisors shares last traded at $10.22, with a volume of 4,842 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hennessy Advisors in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Hennessy Advisors currently has an average rating of “Hold”.

Hennessy Advisors Trading Down 1.4%

The firm’s 50 day moving average is $9.88 and its 200 day moving average is $10.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 12.73 and a quick ratio of 12.72. The company has a market capitalization of $80.66 million, a PE ratio of 8.11 and a beta of 0.64.

Hennessy Advisors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were paid a $0.1375 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.55 annualized dividend and a dividend yield of 5.4%. Hennessy Advisors’s dividend payout ratio (DPR) is presently 43.65%.

Institutional Investors Weigh In On Hennessy Advisors

A number of large investors have recently made changes to their positions in HNNA. Susquehanna International Group LLP increased its stake in shares of Hennessy Advisors by 108.5% during the third 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 during the period. Citadel Advisors LLC purchased a new position in Hennessy Advisors during the 3rd quarter valued at $218,000. Bridgeway Capital Management LLC raised its holdings in Hennessy Advisors by 8.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 18,514 shares of the asset manager’s stock worth $195,000 after purchasing an additional 1,454 shares in the last quarter. Truffle Hound Capital LLC lifted its position in shares of Hennessy Advisors by 241.8% in the 3rd quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock worth $1,576,000 after purchasing an additional 106,726 shares during the period. Finally, Navellier & Associates Inc. lifted its position in shares of Hennessy Advisors by 72.2% in the 3rd quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock worth $770,000 after purchasing an additional 30,889 shares during the period. 10.31% of the stock is currently owned by institutional investors.

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.