Hennessy Advisors, Inc. (NASDAQ:HNNA) Stock Short Interest Report for September

Key Points

• Short interest fell 50.8% to 2,941 shares as of September 30, representing approximately 0.1% of Hennessy Advisors’ outstanding stock and just 0.3 days to cover.
• Hennessy Advisors maintained a consensus “Hold” rating, while its latest quarterly results missed expectations: EPS was $0.25 versus $0.37 expected, and revenue was $8.39 million versus $9.96 million estimated.
• The company declared a quarterly dividend of $0.15 per share, equivalent to a 5.8% annualized yield. Shares traded around $10.30, while an insider sold 5,000 shares and insiders sold 8,171 shares over the prior 90 days.

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 2,941 shares, a drop of 50.8% from the September 15th total of 5,982 shares. Based on an average daily volume of 10,067 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company's stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Hennessy Advisors in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has a consensus rating of "Hold".

Hennessy Advisors Trading Down 0.1%

Shares of NASDAQ HNNA traded down $0.01 during midday trading on Wednesday, reaching $10.30. The company's stock had a trading volume of 2,605 shares, compared to its average volume of 9,630. The stock has a 50 day simple moving average of $10.15 and a 200-day simple moving average of $10.03. The stock has a market capitalization of $81.37 million, a price-to-earnings ratio of 9.90 and a beta of 0.56. Hennessy Advisors has a fifty-two week low of $8.90 and a fifty-two week high of $10.87.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The asset manager reported $0.25 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.12). The business had revenue of $8.39 million for the quarter, compared to analyst estimates of $9.96 million. Hennessy Advisors had a return on equity of 8.31% and a net margin of 24.77%.

Hennessy Advisors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.60 annualized dividend and a yield of 5.8%. Hennessy Advisors's payout ratio is 57.69%.

Insider Activity at Hennessy Advisors

In other news, VP Daniel Steadman sold 5,000 shares of the business's stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $10.26, for a total value of $51,300.00. Following the sale, the vice president directly owned 37,768 shares in the company, valued at $387,499.68. The trade was a 11.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 8,171 shares of company stock valued at $83,573 in the last 90 days. Insiders own 36.00% of the company's stock.

Hedge Funds Weigh In On Hennessy Advisors

Several hedge funds have recently modified their holdings of the stock. Allworth Financial LP acquired a new position in shares of Hennessy Advisors during the 2nd quarter worth approximately $826,000. Perigon Wealth Management LLC acquired a new stake in shares of Hennessy Advisors in the 2nd quarter valued at approximately $648,000. Aegis Financial Corp boosted its holdings in shares of Hennessy Advisors by 20.8% in the 2nd quarter. Aegis Financial Corp now owns 170,768 shares of the asset manager's stock valued at $1,733,000 after buying an additional 29,415 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Hennessy Advisors in the 2nd quarter valued at approximately $201,000. Finally, Empowered Funds LLC bought a new position in shares of Hennessy Advisors in the second quarter valued at $168,000. Institutional investors own 10.31% of the company's stock.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment management company that provides portfolio management, investment advisory and related services. The company manages and sponsors investment products designed for individual investors, financial professionals and institutional clients, with a focus on actively managed strategies across various equity and fixed-income categories.

Through the Hennessy Funds family, the company has offered a range of mutual funds and other investment solutions, including strategies focused on growth, value, income, small-cap companies and specialized industry or market themes.

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