StockNews.com Initiates Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

Equities research analysts at StockNews.com began coverage on shares of AMCON Distributing (NYSEAMERICAN:DITGet Free Report) in a research note issued on Friday. The firm set a “hold” rating on the stock.

Separately, TheStreet cut shares of AMCON Distributing from a “b-” rating to a “c” rating in a report on Thursday, January 18th.

Read Our Latest Report on DIT

AMCON Distributing Stock Performance

Shares of AMCON Distributing stock opened at $200.00 on Friday. The stock has a market capitalization of $126 million, a price-to-earnings ratio of 11.93 and a beta of 0.51. The company has a quick ratio of 1.17, a current ratio of 3.35 and a debt-to-equity ratio of 1.41. AMCON Distributing has a 1 year low of $154.04 and a 1 year high of $249.99.

AMCON Distributing (NYSEAMERICAN:DITGet Free Report) last released its quarterly earnings results on Thursday, January 18th. The company reported $1.78 earnings per share (EPS) for the quarter. The firm had revenue of $644.96 million for the quarter. AMCON Distributing had a return on equity of 9.82% and a net margin of 0.38%.

Hedge Funds Weigh In On AMCON Distributing

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CM Management LLC lifted its stake in shares of AMCON Distributing by 20.7% in the third quarter. CM Management LLC now owns 7,240 shares of the company’s stock worth $1,491,000 after acquiring an additional 1,240 shares during the period. Atria Wealth Solutions Inc. bought a new stake in shares of AMCON Distributing in the 2nd quarter valued at $203,000. EA Series Trust bought a new stake in shares of AMCON Distributing in the 2nd quarter valued at $389,000. Dimensional Fund Advisors LP increased its position in shares of AMCON Distributing by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 21,503 shares of the company’s stock worth $4,516,000 after buying an additional 604 shares during the period. Finally, Renaissance Technologies LLC raised its stake in AMCON Distributing by 1.4% during the second quarter. Renaissance Technologies LLC now owns 10,726 shares of the company’s stock worth $1,748,000 after buying an additional 151 shares during the last quarter. Institutional investors and hedge funds own 11.97% of the company’s stock.

About AMCON Distributing

(Get Free Report)

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.

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