AMCON Distributing Company (NYSEAMERICAN:DIT) Short Interest Update

Key Points

• AMCON Distributing Company experienced a significant decrease in short interest, dropping from 400 shares to 300 shares, representing a 25.0% decline as of August 31st.
• The company recently announced a quarterly dividend of $0.18 per share, which reflects an annualized payout of $0.72 and a dividend yield of 0.6%.
• CM Management LLC raised its stake in AMCON Distributing by 5.1%, owning approximately 1.36% of the company, valued at about $1,027,000 as per SEC filings.

AMCON Distributing Company (NYSEAMERICAN:DIT - ) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 300 shares, a decline of 25.0% from the August 15th total of 400 shares. Based on an average daily trading volume, of 400 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 400 shares, the days-to-cover ratio is presently 0.8 days.

AMCON Distributing Stock Performance

Shares of DIT stock traded down $3.62 during trading hours on Wednesday, reaching $111.38. 337 shares of the company's stock were exchanged, compared to its average volume of 400. AMCON Distributing has a fifty-two week low of $94.92 and a fifty-two week high of $163.75. The stock has a market capitalization of $72.40 million, a P/E ratio of 51.56 and a beta of 0.49. The business has a fifty day moving average price of $113.92 and a 200-day moving average price of $112.15. The company has a quick ratio of 1.06, a current ratio of 2.74 and a debt-to-equity ratio of 1.48.

AMCON Distributing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 8th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.6%. AMCON Distributing's payout ratio is 10.04%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC boosted its stake in shares of AMCON Distributing Company (NYSEAMERICAN:DIT - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,754 shares of the company's stock after acquiring an additional 421 shares during the quarter. CM Management LLC owned 1.36% of AMCON Distributing worth $1,027,000 as of its most recent SEC filing. 11.14% of the stock is currently owned by institutional investors.

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.

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