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

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the target of a large decline in short interest during 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 shares of the company are short sold. Based on an average trading volume of 7,379 shares, the days-to-cover ratio is presently 0.3 days.

Insiders Place Their Bets

In other Hennessy Advisors news, CFO Kathryn Fahy sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were 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 in the company, valued at $606,890. The trade was a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Hennessy Advisors

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC raised its position in Hennessy Advisors by 14.6% in the fourth quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock valued at $127,000 after purchasing an additional 1,678 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Hennessy Advisors in the 2nd quarter valued at approximately $190,000. Bridgeway Capital Management LLC boosted its position in Hennessy Advisors by 9.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 20,192 shares of the asset manager’s stock worth $194,000 after buying an additional 1,678 shares during the period. Citadel Advisors LLC acquired a new stake in Hennessy Advisors during the 3rd quarter worth approximately $218,000. Finally, Susquehanna International Group LLP grew its holdings in Hennessy Advisors by 108.5% during the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock worth $280,000 after acquiring an additional 13,819 shares during the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

Wall Street Analyst Weigh In

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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Hennessy Advisors Stock Performance

Shares of Hennessy Advisors stock traded up $0.43 on Friday, reaching $10.32. 12,628 shares of the stock were exchanged, compared to its average volume of 5,521. The firm has a market cap of $81.53 million, a PE ratio of 9.83 and a beta of 0.59. The firm’s 50 day moving average is $10.01 and its 200-day moving average is $9.92. Hennessy Advisors has a one year low of $8.90 and a one 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 for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.09). The company had revenue of $8.13 million during the quarter, compared to analyst estimates of $9.61 million. Hennessy Advisors had a net margin of 25.40% and a return on equity of 8.53%.

Hennessy Advisors Announces Dividend

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

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.