Hennessy Advisors, Inc. (NASDAQ:HNNA) Short Interest Down 6.3% in December

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

Insider Activity at Hennessy Advisors

In other news, Director Thomas L. Seavey sold 7,269 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $12.10, for a total value of $87,954.90. Following the transaction, the director now owns 83,160 shares of the company’s stock, valued at approximately $1,006,236. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel B. Steadman sold 3,200 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.19, for a total value of $39,008.00. Following the transaction, the vice president now owns 47,242 shares in the company, valued at approximately $575,879.98. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,083 shares of company stock valued at $367,315. 37.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Redhawk Wealth Advisors Inc. raised its position in shares of Hennessy Advisors by 1.7% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager’s stock valued at $671,000 after buying an additional 875 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Hennessy Advisors by 1.9% in the 2nd quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock valued at $681,000 after acquiring an additional 1,813 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Hennessy Advisors by 35.5% during 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. Institutional investors and hedge funds own 10.31% of the company’s stock.

Hennessy Advisors Stock Performance

HNNA stock traded up $0.20 during trading hours on Friday, hitting $12.39. 13,316 shares of the stock were exchanged, compared to its average volume of 15,608. The company has a 50-day simple moving average of $11.67 and a two-hundred day simple moving average of $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 has a 12 month low of $6.38 and a 12 month high of $13.88. The company has a current ratio of 13.78, a quick ratio of 13.78 and a debt-to-equity ratio of 0.43.

Hennessy Advisors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Thursday, November 14th. Hennessy Advisors’s dividend payout ratio (DPR) is 59.78%.

Hennessy Advisors Company Profile

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.