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 - Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 300 shares, a drop of 25.0% from the August 15th total of 400 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 400 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 400 shares, the short-interest ratio is presently 0.8 days. Currently, 0.2% of the shares of the stock are sold short.

AMCON Distributing Price Performance

Shares of AMCON Distributing stock traded up $0.60 during midday trading on Friday, reaching $117.50. The company had a trading volume of 889 shares, compared to its average volume of 418. The company has a current ratio of 2.74, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $76.38 million, a price-to-earnings ratio of 54.40 and a beta of 0.49. The stock has a fifty day simple moving average of $113.89 and a 200 day simple moving average of $112.27. AMCON Distributing has a 1-year low of $94.92 and a 1-year high of $163.75.

AMCON Distributing Dividend Announcement

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

Institutional Trading of AMCON Distributing

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

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.