Short Interest in AMCON Distributing Company (NYSEAMERICAN:DIT) Drops By 16.7%

AMCON Distributing Company (NYSEAMERICAN:DIT) saw a significant decline in short interest in July. As of July 15th, there was short interest totalling 500 shares, a decline of 16.7% from the June 30th total of 600 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 400 shares, the short-interest ratio is presently 1.3 days.

AMCON Distributing Stock Performance

DIT opened at $109.95 on Wednesday. AMCON Distributing has a 52-week low of $94.92 and a 52-week high of $163.75. The firm has a market capitalization of $71.47 million, a PE ratio of 50.90 and a beta of 0.56. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.06 and a current ratio of 2.74. The business’s 50-day simple moving average is $109.18 and its 200 day simple moving average is $113.62.

AMCON Distributing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 8th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.65%. AMCON Distributing’s payout ratio is 10.04%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on AMCON Distributing in a report on Saturday, May 17th. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC increased its stake in shares of AMCON Distributing Company (NYSEAMERICAN:DIT) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,754 shares of the company’s stock after buying an additional 421 shares during the quarter. CM Management LLC owned about 1.36% of AMCON Distributing worth $1,027,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 11.14% of the company’s stock.

AMCON Distributing Company Profile

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.