AMCON Distributing (NYSEAMERICAN:DIT) Short Interest Down 20.0% in October

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC lifted its position in AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned about 1.30% of AMCON Distributing worth $1,152,000 as of its most recent SEC filing. 11.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of AMCON Distributing in a report on Monday. They issued a “hold” rating on the stock.

AMCON Distributing Price Performance

NYSEAMERICAN DIT remained flat at $131.78 on Friday. 14 shares of the company’s stock were exchanged, compared to its average volume of 139. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 1.15. AMCON Distributing has a twelve month low of $118.25 and a twelve month high of $209.50. The company has a market capitalization of $85.66 million, a PE ratio of 18.38 and a beta of 0.54.

AMCON Distributing Announces Dividend

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