AMCON Distributing (NYSEAMERICAN:DIT) Short Interest Down 16.7% in August

AMCON Distributing (NYSEAMERICAN:DIT) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 500 shares, a decline of 16.7% from the July 31st total of 600 shares. Based on an average trading volume of 300 shares, the short-interest ratio is currently 1.7 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC lifted its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the period. CM Management LLC owned about 1.30% of AMCON Distributing worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission. 11.14% of the stock is currently owned by hedge funds and other institutional investors.

AMCON Distributing Trading Up 2.4 %

NYSEAMERICAN DIT traded up $3.38 on Monday, reaching $143.43. 100 shares of the company’s stock traded hands, compared to its average volume of 319. The company has a market capitalization of $90.36 million, a PE ratio of 10.13 and a beta of 0.56. AMCON Distributing has a fifty-two week low of $119.34 and a fifty-two week high of $220.00. The company has a debt-to-equity ratio of 1.59, a current ratio of 3.05 and a quick ratio of 1.15.

AMCON Distributing (NYSEAMERICAN:DIT) last posted its earnings results on Thursday, July 18th. The company reported $2.46 earnings per share (EPS) for the quarter. The company had revenue of $717.85 million during the quarter. AMCON Distributing had a net margin of 0.23% and a return on equity of 5.65%.

AMCON Distributing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, August 2nd were given a $0.18 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.50%. AMCON Distributing’s dividend payout ratio (DPR) is currently 5.08%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of AMCON Distributing in a report on Saturday. They set 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.