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

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 3,382 shares, a drop of 29.4% from the January 29th total of 4,791 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 22,607 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 22,607 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hennessy Advisors in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Hennessy Advisors Stock Performance

Shares of HNNA traded up $0.14 during mid-day trading on Friday, reaching $10.05. The stock had a trading volume of 8,290 shares, compared to its average volume of 15,412. The business has a fifty day moving average of $9.95 and a 200 day moving average of $10.30. The firm has a market cap of $79.29 million, a price-to-earnings ratio of 8.82 and a beta of 0.64. Hennessy Advisors has a 12 month low of $8.43 and a 12 month high of $13.19.

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

Hennessy Advisors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 18th. This is a positive change from Hennessy Advisors’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.0%. Hennessy Advisors’s dividend payout ratio (DPR) is 52.63%.

Hedge Funds Weigh In On Hennessy Advisors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNNA. Empowered Funds LLC increased its stake in Hennessy Advisors by 14.6% in the 4th quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock worth $127,000 after acquiring an additional 1,678 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Hennessy Advisors in the second quarter valued at $190,000. Bridgeway Capital Management LLC increased its position in Hennessy Advisors by 6.7% in the second 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. Citadel Advisors LLC bought a new stake in Hennessy Advisors in the third quarter worth $218,000. Finally, Susquehanna International Group LLP raised its stake in Hennessy Advisors by 108.5% during the third quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after purchasing an additional 13,819 shares in the last quarter. 10.31% of the stock is owned by institutional investors.

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.