Hennessy Advisors, Inc. (NASDAQ:HNNA) Stock Short Interest Falls 50.8%

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 2,941 shares, a drop of 50.8% from the September 15th total of 5,982 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 10,067 shares, the days-to-cover ratio is presently 0.3 days.

Insider Buying and Selling

In other news, VP Daniel Steadman sold 5,000 shares of Hennessy Advisors stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $10.26, for a total value of $51,300.00. Following the completion of the transaction, the vice president owned 37,768 shares of the company’s stock, valued at $387,499.68. This trade represents a 11.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 8,171 shares of company stock valued at $83,573 in the last ninety days. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Hennessy Advisors

Several institutional investors and hedge funds have recently modified their holdings of HNNA. Allworth Financial LP bought a new position in shares of Hennessy Advisors in the second quarter valued at about $826,000. Perigon Wealth Management LLC acquired a new stake in shares of Hennessy Advisors during the 2nd quarter worth about $648,000. Aegis Financial Corp lifted its stake in shares of Hennessy Advisors by 20.8% during the 2nd quarter. Aegis Financial Corp now owns 170,768 shares of the asset manager’s stock worth $1,733,000 after buying an additional 29,415 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Hennessy Advisors during the 2nd quarter worth about $201,000. Finally, Empowered Funds LLC bought a new stake in shares of Hennessy Advisors during the 2nd quarter worth about $168,000. 10.31% of the stock is currently owned by institutional investors and hedge funds.

Hennessy Advisors Trading Down 0.1%

NASDAQ:HNNA traded down $0.01 on Wednesday, hitting $10.30. The company’s stock had a trading volume of 2,605 shares, compared to its average volume of 9,630. The stock has a fifty day moving average of $10.15 and a two-hundred day moving average of $10.03. The firm has a market capitalization of $81.37 million, a P/E ratio of 9.90 and a beta of 0.56. Hennessy Advisors has a one year low of $8.90 and a one year high of $10.87.

Hennessy Advisors (NASDAQ:HNNA) last issued its earnings results on Wednesday, August 5th. The asset manager reported $0.25 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.12). Hennessy Advisors had a return on equity of 8.31% and a net margin of 24.77%. The business had revenue of $8.39 million for the quarter, compared to the consensus estimate of $9.96 million.

Hennessy Advisors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Thursday, August 20th. Hennessy Advisors’s payout ratio is 57.69%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hennessy Advisors in a report on Tuesday, September 8th. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment management company that provides portfolio management, investment advisory and related services. The company manages and sponsors investment products designed for individual investors, financial professionals and institutional clients, with a focus on actively managed strategies across various equity and fixed-income categories.

Through the Hennessy Funds family, the company has offered a range of mutual funds and other investment solutions, including strategies focused on growth, value, income, small-cap companies and specialized industry or market themes.