Hennessy Advisors, Inc. (NASDAQ:HNNA) Sees Significant Growth in Short Interest

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 9,413 shares, a growth of 49.2% from the December 15th total of 6,309 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 28,254 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 28,254 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hennessy Advisors in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Redhawk Wealth Advisors Inc. raised its holdings in shares of Hennessy Advisors by 1.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 68,600 shares of the asset manager’s stock valued at $864,000 after purchasing an additional 1,204 shares in the last quarter. Geode Capital Management LLC increased its position in Hennessy Advisors by 2.0% during the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock worth $654,000 after buying an additional 1,014 shares during the last quarter. Truffle Hound Capital LLC acquired a new position in Hennessy Advisors during the second quarter worth $556,000. Bridgeway Capital Management LLC raised its holdings in Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock valued at $215,000 after buying an additional 1,072 shares in the last quarter. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Hennessy Advisors in the second quarter worth about $190,000. Institutional investors and hedge funds own 10.31% of the company’s stock.

Hennessy Advisors Stock Down 1.4%

Shares of Hennessy Advisors stock traded down $0.14 during trading on Friday, hitting $10.22. 4,842 shares of the stock traded hands, compared to its average volume of 26,006. The stock has a market cap of $80.64 million, a P/E ratio of 8.11 and a beta of 0.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 12.72 and a current ratio of 12.73. Hennessy Advisors has a twelve month low of $8.43 and a twelve month high of $13.19. The company has a fifty day moving average price of $9.88 and a two-hundred day moving average price of $10.76.

Hennessy Advisors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid a $0.1375 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $0.55 dividend on an annualized basis and a yield of 5.4%. Hennessy Advisors’s payout ratio is 43.65%.

About Hennessy Advisors

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.