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

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

Hennessy Advisors Stock Performance

NASDAQ:HNNA traded up $0.79 during trading hours on Wednesday, reaching $12.75. 27,283 shares of the company’s stock were exchanged, compared to its average volume of 15,845. Hennessy Advisors has a 1-year low of $6.38 and a 1-year high of $13.88. The company has a quick ratio of 17.39, a current ratio of 13.78 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $99.20 million, a price-to-earnings ratio of 13.86 and a beta of 0.80. The company has a 50-day moving average of $11.13 and a 200 day moving average of $9.72.

Hennessy Advisors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid 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%.

Insiders Place Their Bets

In other Hennessy Advisors news, VP Daniel B. Steadman sold 2,900 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $11.75, for a total value of $34,075.00. Following the completion of the sale, the vice president now owns 44,342 shares in the company, valued at approximately $521,018.50. The trade was a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas L. Seavey sold 7,269 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,006,236. This trade represents a 8.04 % 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 valued at $367,315. 37.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hennessy Advisors

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake 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 valued at $452,000 after purchasing an additional 11,877 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Hennessy Advisors during the third quarter worth $518,000. Finally, Renaissance Technologies LLC grew its position 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 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.