Hennessy Advisors, Inc. (NASDAQ:HNNA – Get Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 8,431 shares, a growth of 103.6% from the April 15th total of 4,141 shares. Based on an average daily volume of 4,164 shares, the short-interest ratio is presently 2.0 days. Approximately 0.2% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hennessy Advisors in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.
Check Out Our Latest Research Report on HNNA
Hennessy Advisors Stock Performance
Hennessy Advisors (NASDAQ:HNNA – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The asset manager reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $9.61 million.
Hennessy Advisors Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Thursday, May 21st. Hennessy Advisors’s dividend payout ratio is 57.14%.
Insider Buying and Selling
In other news, CFO Kathryn Fahy sold 10,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the transaction, the chief financial officer owned 60,689 shares in the company, valued at approximately $606,890. This represents a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 36.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Truffle Hound Capital LLC boosted its stake in Hennessy Advisors by 241.8% in the third quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock valued at $1,576,000 after buying an additional 106,726 shares in the last quarter. Navellier & Associates Inc. raised 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 acquiring an additional 30,889 shares in the last quarter. Citadel Advisors LLC acquired a new position in Hennessy Advisors during the third quarter worth about $218,000. Evergreen Capital Management LLC bought a new position in shares of Hennessy Advisors in the second quarter worth about $190,000. Finally, Susquehanna International Group LLP boosted its stake in shares of 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 purchasing an additional 13,819 shares in the last quarter. 10.31% of the stock is owned by institutional investors.
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.
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