Short Interest in Hennessy Advisors, Inc. (NASDAQ:HNNA) Expands By 8.7%

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 112,200 shares, a growth of 8.7% from the November 30th total of 103,200 shares. Based on an average trading volume of 11,900 shares, the days-to-cover ratio is presently 9.4 days. Currently, 2.5% of the company’s shares are short sold.

Insider Activity at Hennessy Advisors

In related news, VP Daniel B. Steadman sold 2,900 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $11.75, for a total transaction of $34,075.00. Following the completion of the sale, the vice president now owns 44,342 shares of the company’s stock, valued at approximately $521,018.50. This represents a 6.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas L. Seavey sold 11,074 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $11.44, for a total value of $126,686.56. Following the completion of the transaction, the director now directly owns 70,429 shares of the company’s stock, valued at $805,707.76. This trade represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,083 shares of company stock worth $367,315. 37.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Hennessy Advisors

Several hedge funds have recently made changes to their positions in the business. Redhawk Wealth Advisors Inc. acquired a new stake in Hennessy Advisors during the third quarter valued at approximately $518,000. Renaissance Technologies LLC lifted its position in shares of Hennessy Advisors by 1.9% during the 2nd quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock valued at $681,000 after acquiring an additional 1,813 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Hennessy Advisors by 35.5% during the 3rd quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock valued at $452,000 after acquiring an additional 11,877 shares during the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

Hennessy Advisors Trading Up 6.6 %

Shares of HNNA stock opened at $12.75 on Thursday. The stock has a fifty day moving average of $11.18 and a two-hundred day moving average of $9.74. The firm has a market capitalization of $99.20 million, a PE ratio of 13.86 and a beta of 0.80. Hennessy Advisors has a 1 year low of $6.38 and a 1 year high of $13.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 17.39 and a current ratio of 13.78.

Hennessy Advisors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.138 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.55 annualized dividend and a dividend yield of 4.33%. Hennessy Advisors’s dividend payout ratio (DPR) is 59.78%.

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.