AMCON Distributing (NYSEAMERICAN:DIT) Sees Significant Growth in Short Interest

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

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of AMCON Distributing in a report on Wednesday, January 15th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC lifted its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,756 shares of the company’s stock after purchasing an additional 134 shares during the period. Empowered Funds LLC owned about 0.44% of AMCON Distributing worth $399,000 at the end of the most recent quarter. Institutional investors and hedge funds own 11.14% of the company’s stock.

AMCON Distributing Stock Performance

Shares of DIT traded up $0.49 during trading hours on Friday, hitting $124.00. The stock had a trading volume of 292 shares, compared to its average volume of 241. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 0.91. AMCON Distributing has a fifty-two week low of $117.00 and a fifty-two week high of $205.00. The stock has a market cap of $80.60 million, a P/E ratio of 17.29 and a beta of 0.57.

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

AMCON Distributing Dividend Announcement

The company also recently declared 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 of this dividend is Monday, December 30th. AMCON Distributing’s dividend payout ratio is currently 10.04%.

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.