AMCON Distributing (NYSEAMERICAN:DIT) Short Interest Up 20.0% in June

AMCON Distributing (NYSEAMERICAN:DIT) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 600 shares, an increase of 20.0% from the June 15th total of 500 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 300 shares, the short-interest ratio is presently 2.0 days.

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC grew its position in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,442 shares of the company’s stock after acquiring an additional 175 shares during the quarter. Empowered Funds LLC owned about 0.39% of AMCON Distributing worth $449,000 at the end of the most recent quarter. Institutional investors own 11.14% of the company’s stock.

AMCON Distributing Stock Performance

Shares of NYSEAMERICAN DIT traded up $6.09 during trading on Tuesday, reaching $141.10. The company had a trading volume of 95 shares, compared to its average volume of 302. AMCON Distributing has a twelve month low of $119.34 and a twelve month high of $249.99. The stock has a market cap of $88.89 million, a price-to-earnings ratio of 9.96 and a beta of 0.56. The company has a quick ratio of 1.02, a current ratio of 2.50 and a debt-to-equity ratio of 1.07.

AMCON Distributing (NYSEAMERICAN:DIT) last released its quarterly earnings results on Thursday, April 18th. The company reported $0.89 earnings per share for the quarter. AMCON Distributing had a return on equity of 8.11% and a net margin of 0.32%. The company had revenue of $601.88 million during the quarter.

AMCON Distributing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were paid a $0.18 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $0.72 annualized dividend and a yield of 0.51%. AMCON Distributing’s payout ratio is currently 5.08%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on AMCON Distributing in a research note on Sunday. They issued a “hold” rating on the stock.

About AMCON Distributing

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.