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

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

Hennessy Advisors Stock Performance

Hennessy Advisors stock traded up $0.20 during mid-day trading on Friday, hitting $12.39. The company had a trading volume of 13,316 shares, compared to its average volume of 15,608. The company has a current ratio of 13.78, a quick ratio of 13.78 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $96.36 million, a price-to-earnings ratio of 13.46 and a beta of 0.77. The company’s fifty day moving average is $11.67 and its 200-day moving average is $10.17. Hennessy Advisors has a 12-month low of $6.38 and a 12-month high of $13.88.

Hennessy Advisors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.138 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.46%. Hennessy Advisors’s dividend payout ratio (DPR) is currently 59.78%.

Insider Transactions at Hennessy Advisors

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 3,200 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $12.19, for a total value of $39,008.00. Following the sale, the vice president now directly owns 47,242 shares in the company, valued at approximately $575,879.98. This trade represents 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 have sold 31,083 shares of company stock worth $367,315. Insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Hennessy Advisors

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in 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 in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Hennessy Advisors in the third quarter valued at about $518,000. Finally, Renaissance Technologies LLC increased its stake in shares of Hennessy Advisors by 1.9% during 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 in the last quarter. 10.31% of the stock is currently owned by institutional investors and hedge funds.

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.