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

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the recipient of a large growth in short interest in 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 currently 9.4 days. Currently, 2.5% of the shares of the stock are short sold.

Insider Buying and Selling at Hennessy Advisors

In related news, Director Thomas L. Seavey sold 11,074 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $11.44, for a total transaction of $126,686.56. Following the sale, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel B. Steadman sold 3,200 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.19, for a total transaction of $39,008.00. Following the completion of the transaction, the vice president now directly owns 47,242 shares of the company’s stock, valued at $575,879.98. The trade was a 6.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,083 shares of company stock worth $367,315. 37.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hennessy Advisors

A number of hedge funds and other institutional investors have recently made changes to their positions in HNNA. Geode Capital Management LLC lifted its position in Hennessy Advisors by 35.5% during the third quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after buying an additional 11,877 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in shares of Hennessy Advisors during the 3rd quarter worth about $518,000. Finally, Renaissance Technologies LLC boosted its position in shares of Hennessy Advisors by 1.9% in the second quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock worth $681,000 after acquiring an additional 1,813 shares during the last quarter. Hedge funds and other institutional investors own 10.31% of the company’s stock.

Hennessy Advisors Stock Performance

NASDAQ:HNNA opened at $12.75 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 13.78 and a quick ratio of 17.39. The firm has a market cap of $99.20 million, a PE ratio of 13.86 and a beta of 0.80. The firm has a 50 day simple moving average of $11.18 and a 200-day simple moving average of $9.74. Hennessy Advisors has a 1-year low of $6.38 and a 1-year high of $13.88.

Hennessy Advisors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Thursday, November 14th. Hennessy Advisors’s dividend payout ratio is presently 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.