Short Interest in AMCON Distributing (NYSEAMERICAN:DIT) Rises By 175.0%

AMCON Distributing (NYSEAMERICAN:DIT) was the target of a significant increase in short interest in 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. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 200 shares, the days-to-cover ratio is presently 5.5 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC boosted its holdings in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,756 shares of the company’s stock after buying an additional 134 shares during the quarter. Empowered Funds LLC owned approximately 0.44% of AMCON Distributing worth $399,000 at the end of the most recent reporting period. 11.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

AMCON Distributing Trading Up 3.8 %

AMCON Distributing stock traded up $4.52 during trading hours on Wednesday, reaching $123.52. 59 shares of the stock were exchanged, compared to its average volume of 235. The company has a market capitalization of $80.29 million, a price-to-earnings ratio of 17.23 and a beta of 0.57. The company has a quick ratio of 0.91, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. AMCON Distributing has a twelve month low of $117.00 and a twelve month high of $205.00.

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. The firm had revenue of $746.29 million for the quarter. AMCON Distributing had a net margin of 0.16% and a return on equity of 3.97%.

AMCON Distributing Announces Dividend

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

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.