Hennessy Advisors, Inc. (NASDAQ:HNNA) Short Interest Update

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

Hennessy Advisors Trading Up 1.6 %

Shares of HNNA stock opened at $12.39 on Monday. Hennessy Advisors has a 1-year low of $6.38 and a 1-year high of $13.88. The company has a market cap of $96.36 million, a price-to-earnings 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. The stock has a 50 day simple moving average of $11.67 and a 200-day simple moving average of $10.19.

Hennessy Advisors Announces Dividend

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

Insiders Place Their Bets

In other news, Director Thomas L. Seavey sold 11,074 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $11.44, for a total value of $126,686.56. Following the sale, the director now owns 70,429 shares in the company, valued at $805,707.76. This represents a 13.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel B. Steadman sold 3,407 shares of Hennessy Advisors stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $11.99, for a total transaction of $40,849.93. Following the transaction, the vice president now directly owns 38,282 shares of the company’s stock, valued at approximately $459,001.18. This trade represents a 8.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,083 shares of company stock valued at $367,315. Insiders own 37.40% of the company’s stock.

Institutional Trading of Hennessy Advisors

Several institutional investors have recently modified their holdings of HNNA. Renaissance Technologies LLC lifted its stake in Hennessy Advisors by 1.9% in the 2nd quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock valued at $681,000 after buying an additional 1,813 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Hennessy Advisors by 1.7% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager’s stock valued at $671,000 after acquiring an additional 875 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Hennessy Advisors by 35.5% in the third 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. Institutional investors and hedge funds own 10.31% of the company’s stock.

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.