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

Hennessy Advisors, Inc. (NASDAQ:HNNA) saw a large decrease in short interest in 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 daily volume of 12,800 shares, the days-to-cover ratio is currently 8.2 days. Approximately 2.4% of the company’s shares are sold short.

Insider Buying and Selling

In other news, VP Daniel B. Steadman sold 2,900 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $11.75, for a total transaction of $34,075.00. Following the transaction, the vice president now directly owns 44,342 shares of the company’s stock, valued at approximately $521,018.50. This trade represents a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas L. Seavey sold 11,074 shares of Hennessy Advisors stock in a transaction that occurred on Thursday, December 19th. The shares were 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 $805,707.76. This represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,083 shares of company stock valued at $367,315 in the last ninety days. 37.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased 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 valued at $452,000 after acquiring an additional 11,877 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in Hennessy Advisors in the third quarter valued at about $518,000. Finally, Renaissance Technologies LLC raised its holdings in 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 in the last quarter. 10.31% of the stock is currently owned by institutional investors.

Hennessy Advisors Stock Up 1.6 %

Shares of HNNA stock traded up $0.20 during mid-day trading on Friday, hitting $12.39. The stock had a trading volume of 13,316 shares, compared to its average volume of 15,608. Hennessy Advisors has a 12-month low of $6.38 and a 12-month high of $13.88. 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 firm’s 50-day moving average is $11.67 and its two-hundred day moving average is $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.

Hennessy Advisors Announces Dividend

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