Short Interest in Hennessy Advisors, Inc. (NASDAQ:HNNA) Decreases By 6.3%

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

Hennessy Advisors Price Performance

Shares of HNNA traded down $0.01 during mid-day trading on Wednesday, reaching $12.48. The company had a trading volume of 4,187 shares, compared to its average volume of 11,221. The company's 50-day moving average is $12.18 and its 200-day moving average is $10.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 13.78 and a quick ratio of 13.78. The company has a market capitalization of $97.09 million, a P/E ratio of 13.57 and a beta of 0.77. Hennessy Advisors has a twelve month low of $6.38 and a twelve month high of $13.88.

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

Insider Buying and Selling

In related news, Director Thomas L. Seavey sold 7,269 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $12.10, for a total value of $87,954.90. Following the completion of the sale, the director now owns 83,160 shares in the company, valued at approximately $1,006,236. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel B. Steadman sold 3,200 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.19, for a total value of $39,008.00. Following the completion of the transaction, the vice president now directly owns 47,242 shares of the company's stock, valued at approximately $575,879.98. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,083 shares of company stock worth $367,315. 37.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hennessy Advisors

Several institutional investors and hedge funds have recently modified their holdings of the business. Redhawk Wealth Advisors Inc. grew its holdings in Hennessy Advisors by 1.7% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager's stock worth $671,000 after purchasing an additional 875 shares during the period. Renaissance Technologies LLC grew its stake in Hennessy Advisors by 1.9% during the second quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager's stock worth $681,000 after buying an additional 1,813 shares in the last quarter. Geode Capital Management LLC raised its position in Hennessy Advisors by 35.5% during the third 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. Perigon Wealth Management LLC boosted its stake 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 buying an additional 15,882 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Hennessy Advisors during the fourth quarter worth $336,000. 10.31% of the stock is currently owned by institutional investors and hedge funds.

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.