Short Interest in AMCON Distributing (NYSEAMERICAN:DIT) Decreases By 20.0%

AMCON Distributing (NYSEAMERICAN:DIT) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 400 shares, a drop of 20.0% from the October 15th total of 500 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 200 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Trading of AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC lifted its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,442 shares of the company’s stock after acquiring an additional 175 shares during the period. Empowered Funds LLC owned 0.39% of AMCON Distributing worth $449,000 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 remained flat at $131.78 during midday trading on Friday. 14 shares of the company’s stock traded hands, compared to its average volume of 139. The firm has a market cap of $85.66 million, a price-to-earnings ratio of 18.38 and a beta of 0.54. AMCON Distributing has a 52 week low of $118.25 and a 52 week high of $209.50. The company has a quick ratio of 1.15, a current ratio of 2.46 and a debt-to-equity ratio of 1.23.

AMCON Distributing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Monday, November 4th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.55%. The ex-dividend date was Monday, November 4th. AMCON Distributing’s payout ratio is 10.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of AMCON Distributing in a research note on Monday. They issued a “hold” rating for the company.

AMCON Distributing Company Profile

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.