Hennessy Advisors, Inc. (NASDAQ:HNNA) Sees Large Increase in Short Interest

Hennessy Advisors, Inc. (NASDAQ:HNNA) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 4,624 shares, an increase of 36.7% from the February 12th total of 3,382 shares. Based on an average daily trading volume, of 6,502 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the shares of the company are sold short. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 6,502 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

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

Hennessy Advisors Stock Up 0.2%

HNNA stock traded up $0.02 during midday trading on Friday, reaching $9.73. 2,146 shares of the company’s stock traded hands, compared to its average volume of 7,222. The company has a 50-day simple moving average of $10.04 and a two-hundred day simple moving average of $10.23. Hennessy Advisors has a 1-year low of $8.43 and a 1-year high of $13.19. The company has a market cap of $76.77 million, a price-to-earnings ratio of 8.54 and a beta of 0.65.

Hennessy Advisors (NASDAQ:HNNA) last posted its quarterly earnings data on Thursday, February 5th. The asset manager reported $0.24 EPS for the quarter. The company had revenue of $8.32 million for the quarter. Hennessy Advisors had a return on equity of 9.33% and a net margin of 26.52%.

Hennessy Advisors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were given a dividend of $0.15 per share. This is a positive change from Hennessy Advisors’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 18th. This represents a $0.60 annualized dividend and a yield of 6.2%. Hennessy Advisors’s dividend payout ratio is currently 52.63%.

Institutional Investors Weigh In On Hennessy Advisors

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 1,014 shares in the last quarter. Truffle Hound Capital LLC acquired a new stake in shares of Hennessy Advisors in the second quarter valued at approximately $556,000. Bridgeway Capital Management LLC raised its position in Hennessy Advisors by 6.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after purchasing an additional 1,072 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Hennessy Advisors in the 2nd quarter worth approximately $190,000. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in Hennessy Advisors by 9.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager’s stock worth $791,000 after buying an additional 6,714 shares in the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

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.