Ownership Don’t Lie: Institutional Investors Sentiment Indicator of Hennessy Advisors Inc (NASDAQ:HNNA) Increases in Q2 2016

November 18, 2016 - By Dolores Ford   ·   0 Comments

Ownership Don't Lie: Institutional Investors Sentiment Indicator of Hennessy Advisors Inc (NASDAQ:HNNA)  Increases in  Q2 2016

Sentiment for Hennessy Advisors Inc (NASDAQ:HNNA)

Hennessy Advisors Inc (NASDAQ:HNNA) institutional sentiment decreased to 1.64 in Q2 2016. Its down -1.58, from 3.22 in 2016Q1. The ratio worsened, as 29 hedge funds opened new or increased holdings, while 9 decreased and sold holdings in Hennessy Advisors Inc. The hedge funds in our partner’s database now possess: 1.68 million shares, up from 638,890 shares in 2016Q1. Also, the number of hedge funds holding Hennessy Advisors Inc in their top 10 holdings was flat from 0 to 0 for the same number . Sold All: 3 Reduced: 6 Increased: 17 New Position: 12.

Hennessy Advisors, Inc. is an investment management company. The company has a market cap of $164.73 million. The Company’s business activity is managing, servicing and marketing open-end mutual funds branded as the Hennessy Funds. It has a 11.98 P/E ratio. It provides investment advisory services and shareholder services.

About 3,217 shares traded hands. Hennessy Advisors Inc (NASDAQ:HNNA) has risen 13.47% since April 18, 2016 and is uptrending. It has outperformed by 9.04% the S&P500.

Analysts await Hennessy Advisors Inc (NASDAQ:HNNA) to report earnings on December, 5.

According to Zacks Investment Research, “Hennessy Advisors, Inc. is the investment manager of the Hennessy Funds, a family of six no-load mutual funds, satisfying a variety of investment objectives and risk tolerance levels. Each of the Hennessy Funds employs a unique mutual fund money management approach combining superb, time-tested stock selection formulas with unwavering discipline and consistency. Hennessy Advisors manages the Hennessy Cornerstone Growth Fund (HFCGX), the Hennessy Cornerstone Growth Fund, Series II (HENLX), the Hennessy Cornerstone Value Fund (HFCVX), the Hennessy Total Return Fund (HDOGX), the Hennessy Balanced Fund (HBFBX) and the Hennessy Focus 30 Fund (HFTFX). The company serves clients with integrity, honesty and candor. The Funds’ strategies and performance are fully disclosed. Hennessy Advisors’ strength lies in their disciplined investment style and commitment to managing their mutual funds for the benefit of their shareholders.”

Perritt Capital Management Inc holds 1.12% of its portfolio in Hennessy Advisors Inc for 126,528 shares. Willow Creek Wealth Management Inc. owns 14,369 shares or 0.39% of their US portfolio. Moreover, Maltese Capital Management Llc has 0.28% invested in the company for 66,004 shares. The Illinois-based Ativo Capital Management Llc has invested 0.27% in the stock. Granite Investment Partners Llc, a California-based fund reported 84,003 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 13 insider sales for $1.55 million net activity.

HNNA Company Profile

Hennessy Advisors, Inc., incorporated on February 1, 1989, is an investment management firm. The Firm is engaged in managing, servicing and marketing its open-end mutual funds, the Hennessy Funds. The Firm manages 16 mutual funds that have each been categorized as a Domestic Equity product, Balanced and Fixed Income product, or Sector and Specialty product. The Company’s Domestic Equity product includes Hennessy Cornerstone Growth Fund, Hennessy Focus Fund, Hennessy Cornerstone Mid Cap 30 Fund, Hennessy Cornerstone Large Growth Fund, Hennessy Cornerstone Value Fund, Hennessy Large Value Fund and Hennessy Total Return Fund. The Company’s Balanced and Fixed Income product includes Hennessy Equity and Income Fund; Hennessy Balanced Fund, and Hennessy Core Bond Fund. It’s Sector and Specialty product includes Hennessy Gas Utility Index Fund, Hennessy Small Cap Financial Fund, Hennessy Large Cap Financial Fund, Hennessy Technology Fund, Hennessy Japan Fund and Hennessy Japan Small Cap Fund. The Hennessy Total Return Fund seeks total return, consisting of capital appreciation and current income, by investing approximately 50% of its assets in the 10 highest dividend-yielding common stocks of the Dow Jones Industrial Average (commonly referred to as the Dogs of the Dow) and the remaining 50% in United States Treasury securities with a maturity of less than one year.

More news for Hennessy Advisors Inc (NASDAQ:HNNA) were recently published by: Prnewswire.com, which released: “Hennessy Advisors, Inc. to Acquire The Westport Funds” on May 02, 2016. Patch.com‘s article titled: “Marin-Based Hennessy Advisors, Inc. Acquires The Westport Funds” and published on September 24, 2016 is yet another important article.

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By Dolores Ford

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