Hennessy Advisors, Inc. (NASDAQ:HNNA) Sees Large Decline in Short Interest

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 105,100 shares, a decrease of 6.3% from the December 15th total of 112,200 shares. Based on an average trading volume of 12,800 shares, the days-to-cover ratio is presently 8.2 days. Approximately 2.4% of the shares of the stock are sold short.

Insider Transactions at Hennessy Advisors

In other news, Director Thomas L. Seavey sold 11,074 shares of Hennessy Advisors stock in a transaction dated 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 directly owns 70,429 shares of the company’s stock, valued at approximately $805,707.76. This trade represents a 13.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Daniel B. Steadman sold 3,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.19, for a total transaction of $39,008.00. Following the sale, the vice president now directly owns 47,242 shares in the company, valued at $575,879.98. The trade was a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,083 shares of company stock valued at $367,315. 37.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hennessy Advisors

Several hedge funds and other institutional investors have recently bought and sold shares of HNNA. Geode Capital Management LLC raised its holdings in shares of Hennessy Advisors by 35.5% in 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. bought a new stake in Hennessy Advisors during the 3rd quarter worth approximately $518,000. Finally, Renaissance Technologies LLC raised its stake 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 purchasing an additional 1,813 shares during the last quarter. 10.31% of the stock is owned by institutional investors.

Hennessy Advisors Trading Up 1.6 %

Shares of HNNA traded up $0.20 during trading hours on Friday, hitting $12.39. 13,316 shares of the stock were exchanged, compared to its average volume of 15,608. Hennessy Advisors has a fifty-two week low of $6.38 and a fifty-two week high of $13.88. The business has a 50-day moving average of $11.67 and a 200-day moving average of $10.17. The firm has a market capitalization of $96.36 million, a P/E ratio of 13.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 13.78 and a quick ratio of 13.78.

Hennessy Advisors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.138 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.46%. Hennessy Advisors’s payout ratio is presently 59.78%.

About Hennessy Advisors

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.