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

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 4,624 shares, an increase of 36.7% from the February 12th total of 3,382 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 6,502 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 6,502 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Hennessy Advisors

Institutional investors and hedge funds have recently modified their holdings of the stock. Truffle Hound Capital LLC increased its position in shares of 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 purchasing an additional 9,143 shares during the last quarter. 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 worth $791,000 after buying an additional 6,714 shares during the last quarter. Navellier & Associates Inc. boosted its stake in Hennessy Advisors by 72.2% during the third quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock worth $770,000 after buying an additional 30,889 shares during the period. Geode Capital Management LLC boosted its stake in Hennessy Advisors by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 56,478 shares of the asset manager’s stock worth $542,000 after buying an additional 1,873 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Hennessy Advisors by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 49,110 shares of the asset manager’s stock valued at $471,000 after acquiring an additional 1,282 shares during the last quarter. Hedge funds and other institutional investors own 10.31% of the company’s stock.

Hennessy Advisors Stock Performance

HNNA stock traded up $0.15 during trading on Monday, hitting $9.88. 1,425 shares of the company’s stock traded hands, compared to its average volume of 15,144. Hennessy Advisors has a 52 week low of $8.43 and a 52 week high of $13.19. The stock has a market capitalization of $77.91 million, a price-to-earnings ratio of 8.66 and a beta of 0.65. The business has a fifty day simple moving average of $10.04 and a 200 day simple moving average of $10.21.

Hennessy Advisors (NASDAQ:HNNA) last posted its earnings results 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 for the quarter.

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 dividend on an annualized basis and a yield of 6.1%. 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 currently 52.63%.

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.