AMCON Distributing (NYSEAMERICAN:DIT) Short Interest Up 175.0% in January

AMCON Distributing (NYSEAMERICAN:DIT) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,100 shares, an increase of 175.0% from the December 31st total of 400 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily volume of 200 shares, the days-to-cover ratio is presently 5.5 days.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC grew its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,756 shares of the company’s stock after purchasing an additional 134 shares during the period. Empowered Funds LLC owned approximately 0.44% of AMCON Distributing worth $399,000 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 Price Performance

NYSEAMERICAN:DIT traded up $0.49 during trading hours on Friday, hitting $124.00. 292 shares of the company’s stock traded hands, compared to its average volume of 241. AMCON Distributing has a 52 week low of $117.00 and a 52 week high of $205.00. The firm has a market capitalization of $80.60 million, a price-to-earnings ratio of 17.29 and a beta of 0.57. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.91 and a current ratio of 2.46.

AMCON Distributing (NYSEAMERICAN:DIT) last announced its quarterly earnings data on Friday, November 8th. The company reported $2.04 earnings per share (EPS) for the quarter. AMCON Distributing had a net margin of 0.16% and a return on equity of 3.97%. The business had revenue of $746.29 million during the quarter.

AMCON Distributing Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, December 30th. AMCON Distributing’s dividend payout ratio is currently 10.04%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of AMCON Distributing in a research note on Wednesday, January 15th. 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.