Short Interest in Distribution Solutions Group, Inc. (NASDAQ:DSGR) Drops By 22.3%

Distribution Solutions Group, Inc. (NASDAQ:DSGR) was the recipient of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 318,697 shares, a decline of 22.3% from the January 29th total of 410,411 shares. Based on an average daily trading volume, of 114,763 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.9% of the company’s shares are short sold. Approximately 2.9% of the company’s shares are short sold. Based on an average daily trading volume, of 114,763 shares, the days-to-cover ratio is presently 2.8 days.

Distribution Solutions Group Price Performance

Distribution Solutions Group stock opened at $29.53 on Monday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -128.00 and a beta of 0.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.38 and a current ratio of 2.50. Distribution Solutions Group has a 1 year low of $21.87 and a 1 year high of $33.80. The company’s 50 day simple moving average is $29.47 and its 200-day simple moving average is $29.40.

Distribution Solutions Group announced that its Board of Directors has approved a share repurchase plan on Monday, November 17th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Distribution Solutions Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in Distribution Solutions Group by 53.5% in the second quarter. BNP Paribas Financial Markets now owns 1,170 shares of the company’s stock valued at $32,000 after acquiring an additional 408 shares during the period. Quarry LP acquired a new position in Distribution Solutions Group in the third quarter worth approximately $42,000. Covestor Ltd increased its holdings in Distribution Solutions Group by 27.3% in the third quarter. Covestor Ltd now owns 2,232 shares of the company’s stock worth $67,000 after buying an additional 478 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Distribution Solutions Group during the third quarter valued at approximately $80,000. Finally, Tudor Investment Corp ET AL acquired a new stake in Distribution Solutions Group in the third quarter valued at approximately $226,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on DSGR. Weiss Ratings reiterated a “sell (d)” rating on shares of Distribution Solutions Group in a research report on Monday, December 29th. Barrington Research restated an “outperform” rating and set a $41.00 price target on shares of Distribution Solutions Group in a research report on Monday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Distribution Solutions Group presently has an average rating of “Hold” and an average price target of $41.00.

Distribution Solutions Group Company Profile

Distribution Solutions Group, Inc, a specialty distribution company, engages in the provision of value-added distribution solutions in North America, Europe, Asia, South America, and the Middle East. The company provides its solutions to the maintenance, repair, and operations (MRO); original equipment manufacturer (OEM); and industrial technology markets. It operates through three segments: Lawson, Gexpro Services, and TestEquity. The Lawson segment distributes of specialty products and services to the industrial, commercial, institutional, and government MRO market.