Hennessy Advisors, Inc. (NASDAQ:HNNA) Short Interest Down 66.1% in June

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 2,458 shares, a decrease of 66.1% from the May 31st total of 7,258 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 7,379 shares, the short-interest ratio is presently 0.3 days.

Hennessy Advisors Stock Down 1.2%

Shares of HNNA traded down $0.12 during trading on Tuesday, reaching $10.15. 14,769 shares of the company traded hands, compared to its average volume of 11,481. The stock has a 50-day simple moving average of $10.02 and a 200-day simple moving average of $9.92. The stock has a market cap of $80.19 million, a PE ratio of 9.67 and a beta of 0.59. Hennessy Advisors has a twelve month low of $8.90 and a twelve month high of $13.19.

Hennessy Advisors (NASDAQ:HNNA) last posted its quarterly earnings data 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). Hennessy Advisors had a return on equity of 8.53% and a net margin of 25.40%.The company had revenue of $8.13 million for the quarter, compared to analysts’ expectations of $9.61 million.

Hennessy Advisors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.9%. Hennessy Advisors’s payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Hennessy Advisors from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Insider Activity

In related news, CFO Kathryn Fahy sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the sale, the chief financial officer owned 60,689 shares of the company’s stock, valued at approximately $606,890. This trade represents a 14.15% 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. 36.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hennessy Advisors

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in 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 during the period. Bridgeway Capital Management LLC increased its stake in Hennessy Advisors by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after buying an additional 1,072 shares during the period. Evergreen Capital Management LLC acquired a new stake in Hennessy Advisors during the 2nd quarter worth approximately $190,000. Citadel Advisors LLC acquired a new stake in Hennessy Advisors during the 3rd quarter worth approximately $218,000. Finally, Susquehanna International Group LLP boosted its position in Hennessy Advisors by 108.5% in the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after buying an additional 13,819 shares during the period. 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.