Hennessy Advisors (NASDAQ:HNNA) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $12.25 and traded as high as $12.38. Hennessy Advisors shares last traded at $12.31, with a volume of 4,692 shares trading hands.

Hennessy Advisors Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 13.78 and a quick ratio of 13.78. The stock’s 50 day moving average price is $12.25 and its two-hundred day moving average price is $10.68. The firm has a market capitalization of $95.82 million, a price-to-earnings ratio of 13.38 and a beta of 0.77.

Hennessy Advisors (NASDAQ:HNNA) last released its earnings results on Wednesday, December 11th. The asset manager reported $0.30 earnings per share (EPS) for the quarter. Hennessy Advisors had a return on equity of 7.92% and a net margin of 26.64%.

Insider Activity at Hennessy Advisors

In related news, VP Daniel B. Steadman sold 3,200 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.19, for a total value of $39,008.00. Following the sale, the vice president now owns 47,242 shares of the company’s stock, valued at $575,879.98. The trade was a 6.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas L. Seavey sold 7,269 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $12.10, for a total transaction of $87,954.90. Following the transaction, the director now owns 83,160 shares of the company’s stock, valued at approximately $1,006,236. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,083 shares of company stock worth $367,315 over the last three months. Company insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Hennessy Advisors

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP acquired a new position in Hennessy Advisors in the fourth quarter valued at about $336,000. Geode Capital Management LLC grew its position in Hennessy Advisors by 35.5% during the 3rd quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after acquiring an additional 11,877 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in Hennessy Advisors during the 3rd quarter valued at $518,000. Navellier & Associates Inc. bought a new position in Hennessy Advisors in the 4th quarter valued at $605,000. Finally, Perigon Wealth Management LLC boosted its stake in Hennessy Advisors by 33.1% in the fourth quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock worth $778,000 after purchasing an additional 15,882 shares in the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

Hennessy Advisors Company Profile

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.