Hennessy Advisors, Inc. (NASDAQ:HNNA) Short Interest Down 20.4% in March

Hennessy Advisors, Inc. (NASDAQ:HNNA) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 3,679 shares, a drop of 20.4% from the February 26th total of 4,624 shares. Based on an average trading volume of 7,447 shares, the short-interest ratio is currently 0.5 days. Currently, 0.1% of the shares of the company are short sold.

Hennessy Advisors Price Performance

NASDAQ:HNNA opened at $9.51 on Monday. Hennessy Advisors has a one year low of $8.43 and a one year high of $13.19. The company has a market cap of $75.05 million, a P/E ratio of 8.34 and a beta of 0.65. The firm’s fifty day moving average price is $9.98 and its two-hundred day moving average price is $10.04.

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

Hennessy Advisors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.3%. This is a boost from Hennessy Advisors’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 18th. Hennessy Advisors’s dividend payout ratio (DPR) is 52.63%.

Hedge Funds Weigh In On Hennessy Advisors

Several institutional investors and hedge funds have recently made changes to their positions in HNNA. Geode Capital Management LLC increased its stake 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 during the period. Bridgeway Capital Management LLC boosted its stake 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 valued at $215,000 after purchasing an additional 1,072 shares during the period. Evergreen Capital Management LLC bought a new stake in Hennessy Advisors in the 2nd quarter valued at $190,000. Redhawk Wealth Advisors Inc. grew its holdings in Hennessy Advisors by 9.8% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager’s stock valued at $791,000 after buying an additional 6,714 shares in the last quarter. Finally, Navellier & Associates Inc. grew its holdings in Hennessy Advisors by 72.2% in the 3rd quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock valued at $770,000 after buying an additional 30,889 shares in the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

Wall Street Analyst Weigh In

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

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.