Hennessy Advisors, Inc. (NASDAQ:HNNA) Short Interest Down 29.4% in February

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the recipient of a large drop in short interest in 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. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 22,607 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 22,607 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Hennessy Advisors Price Performance

NASDAQ HNNA traded down $0.13 on Monday, reaching $9.92. 14,675 shares of the company’s stock traded hands, compared to its average volume of 14,378. Hennessy Advisors has a 12 month low of $8.43 and a 12 month high of $13.19. The stock has a 50-day simple moving average of $9.96 and a 200 day simple moving average of $10.29. The stock has a market cap of $78.27 million, a PE ratio of 8.70 and a beta of 0.65.

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

Hennessy Advisors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders 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 annualized dividend and a yield of 6.0%. Hennessy Advisors’s dividend payout ratio (DPR) is currently 52.63%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Truffle Hound Capital LLC boosted its holdings in Hennessy Advisors by 6.1% during the 4th quarter. Truffle Hound Capital LLC now owns 160,000 shares of the asset manager’s stock valued at $1,536,000 after acquiring an additional 9,143 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in Hennessy Advisors by 9.8% in the third quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager’s stock valued at $791,000 after purchasing an additional 6,714 shares during the last quarter. Navellier & Associates Inc. boosted its stake in shares of Hennessy Advisors by 72.2% during the third quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock valued at $770,000 after purchasing an additional 30,889 shares during the period. Geode Capital Management LLC boosted its stake in shares of Hennessy Advisors by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 56,478 shares of the asset manager’s stock valued at $542,000 after purchasing an additional 1,873 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Hennessy Advisors by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 49,110 shares of the asset manager’s stock worth $471,000 after purchasing an additional 1,282 shares during the last quarter. Hedge funds and other institutional investors 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.