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

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 2,458 shares, a decline of 66.1% from the May 31st total of 7,258 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 7,379 shares, the days-to-cover ratio is presently 0.3 days.

Hennessy Advisors Trading Up 4.3%

NASDAQ HNNA traded up $0.43 during trading hours on Friday, hitting $10.32. 12,628 shares of the company’s stock were exchanged, compared to its average volume of 5,521. The firm has a market cap of $81.53 million, a price-to-earnings ratio of 9.83 and a beta of 0.59. The stock has a 50-day simple moving average of $10.01 and a 200 day simple moving average of $9.92. Hennessy Advisors has a 1-year low of $8.90 and a 1-year high of $13.19.

Hennessy Advisors (NASDAQ:HNNA) last posted its quarterly earnings results on Wednesday, May 6th. The asset manager reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.09). The business had revenue of $8.13 million for the quarter, compared to the consensus estimate of $9.61 million. Hennessy Advisors had a return on equity of 8.53% and a net margin of 25.40%.

Hennessy Advisors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Thursday, May 21st. Hennessy Advisors’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Hennessy Advisors from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Insider Buying and Selling at Hennessy Advisors

In related news, CFO Kathryn Fahy sold 10,000 shares of Hennessy Advisors stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the transaction, the chief financial officer directly owned 60,689 shares of the company’s stock, valued at $606,890. The trade was a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Hennessy Advisors

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC increased its position in Hennessy Advisors by 14.6% in the 4th quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock valued at $127,000 after buying an additional 1,678 shares in the last quarter. Evergreen Capital Management LLC bought a new position in Hennessy Advisors in the second quarter worth approximately $190,000. Bridgeway Capital Management LLC grew its stake in Hennessy Advisors by 9.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 20,192 shares of the asset manager’s stock valued at $194,000 after acquiring an additional 1,678 shares during the period. Citadel Advisors LLC bought a new stake in shares of Hennessy Advisors during the third quarter valued at approximately $218,000. Finally, Susquehanna International Group LLP raised its position in shares of Hennessy Advisors by 108.5% during the third quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock worth $280,000 after purchasing an additional 13,819 shares during the period. Institutional investors own 10.31% of the company’s stock.

Hennessy Advisors Company Profile

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.