Hennessy Advisors Inc (NASDAQ:HNNA) Short Interest Update

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Hennessy Advisors Inc (NASDAQ:HNNA) was the target of a significant decline in short interest during the month of November. As of November 29th, there was short interest totalling 102,100 shares, a decline of 9.0% from the November 14th total of 112,200 shares. Based on an average daily volume of 10,500 shares, the days-to-cover ratio is presently 9.7 days. Approximately 2.5% of the company’s stock are short sold.

In related news, COO Teresa M. Nilsen sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $10.20, for a total transaction of $25,500.00. Following the transaction, the chief operating officer now directly owns 150,667 shares in the company, valued at $1,536,803.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 40.73% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in HNNA. Yorktown Management & Research Co Inc bought a new stake in Hennessy Advisors in the third quarter worth about $212,000. Cambridge Investment Research Advisors Inc. bought a new stake in Hennessy Advisors in the second quarter worth about $98,000. Renaissance Technologies LLC raised its position in Hennessy Advisors by 4.5% in the second quarter. Renaissance Technologies LLC now owns 87,720 shares of the asset manager’s stock worth $851,000 after acquiring an additional 3,770 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Hennessy Advisors by 78.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,447 shares of the asset manager’s stock worth $33,000 after acquiring an additional 1,515 shares during the period. 11.26% of the stock is currently owned by institutional investors and hedge funds.

HNNA stock traded up $0.01 during mid-day trading on Friday, hitting $10.24. The company had a trading volume of 8,668 shares, compared to its average volume of 13,415. The firm has a market cap of $76.74 million, a PE ratio of 7.20 and a beta of 0.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.55 and a current ratio of 2.55. Hennessy Advisors has a 12 month low of $9.00 and a 12 month high of $12.78. The stock’s fifty day moving average price is $11.45 and its two-hundred day moving average price is $10.35.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th were given a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 5.39%. The ex-dividend date was Friday, November 8th.

About Hennessy Advisors

Hennessy Advisors, Inc is publicly 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.

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