Hennessy Advisors, Inc. (NASDAQ:HNNA) Sees Significant Decrease in Short Interest

Hennessy Advisors, Inc. (NASDAQ:HNNA) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 105,100 shares, a decline of 6.3% from the December 31st total of 112,200 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is presently 8.2 days.

Insider Transactions at Hennessy Advisors

In related news, VP Daniel B. Steadman sold 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.19, for a total transaction of $39,008.00. Following the completion of the transaction, the vice president now owns 47,242 shares in the company, valued at $575,879.98. This trade represents a 6.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas L. Seavey sold 11,074 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $11.44, for a total transaction of $126,686.56. Following the sale, the director now directly owns 70,429 shares in the company, valued at $805,707.76. This represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,083 shares of company stock worth $367,315. 37.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of Hennessy Advisors by 35.5% in the 3rd quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock valued at $452,000 after purchasing an additional 11,877 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in Hennessy Advisors in the third quarter valued at about $518,000. Renaissance Technologies LLC boosted its stake in Hennessy Advisors by 1.9% in the second quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock valued at $681,000 after buying an additional 1,813 shares in the last quarter. Perigon Wealth Management LLC grew its position in Hennessy Advisors by 33.1% in the fourth quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock valued at $778,000 after acquiring an additional 15,882 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in Hennessy Advisors during the fourth quarter worth about $336,000. 10.31% of the stock is owned by institutional investors.

Hennessy Advisors Trading Up 1.4 %

Hennessy Advisors stock traded up $0.17 during midday trading on Friday, hitting $12.30. 5,463 shares of the stock were exchanged, compared to its average volume of 11,797. Hennessy Advisors has a 52 week low of $6.38 and a 52 week high of $13.88. The company has a quick ratio of 13.78, a current ratio of 13.78 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $95.69 million, a PE ratio of 13.37 and a beta of 0.77. The company has a fifty day simple moving average of $12.06 and a two-hundred day simple moving average of $10.49.

Hennessy Advisors (NASDAQ:HNNA) last released its earnings results on Wednesday, December 11th. The asset manager reported $0.30 earnings per share (EPS) for the quarter. Hennessy Advisors had a return on equity of 7.92% and a net margin of 26.64%.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an employee owned investment manager. It provides its services to Hennessy Funds and investment companies. The firm launches and manages equity, fixed income, and balanced mutual funds. It invests in the public equity and fixed income markets across the globe. The firm primarily invests in growth stocks of companies.