AMCON Distributing (NYSEAMERICAN:DIT) Stock Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• AMCON Distributing shares fell below their 200-day moving average of $77.47, trading as low as $68.86 and last changing hands at $66.6850, down 3.2%.
• The company reported quarterly revenue of $835.34 million and earnings of $2.85 per share, but profitability remained thin with a net margin of just 0.01% and a P/E ratio of 142.90.
• AMCON declared a quarterly dividend of $0.12, equating to $0.48 annually and a 0.7% yield; institutional investors and hedge funds own 11.14% of the stock.

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $77.47 and traded as low as $68.86. AMCON Distributing shares last traded at $66.6850, with a volume of 423 shares.

AMCON Distributing Stock Down 3.2%

The firm has a market cap of $65.35 million, a P/E ratio of 142.90 and a beta of -0.22. The firm's fifty day moving average is $70.83 and its 200 day moving average is $77.47. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 2.17.

AMCON Distributing (NYSEAMERICAN:DIT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.85 earnings per share for the quarter. The firm had revenue of $835.34 million for the quarter. AMCON Distributing had a net margin of 0.01% and a return on equity of 0.38%.

AMCON Distributing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. AMCON Distributing's dividend payout ratio is presently 6.69%.

Institutional Trading of AMCON Distributing

Several hedge funds have recently added to or reduced their stakes in DIT. Dimensional Fund Advisors LP lifted its holdings in shares of AMCON Distributing by 49.0% during the first quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company's stock worth $2,842,000 after buying an additional 10,393 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of AMCON Distributing by 50.0% in the first quarter. Renaissance Technologies LLC now owns 14,001 shares of the company's stock valued at $1,260,000 after acquiring an additional 4,666 shares in the last quarter. Empowered Funds LLC grew its stake in shares of AMCON Distributing by 59.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company's stock valued at $426,000 after acquiring an additional 1,782 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in AMCON Distributing by 1.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company's stock worth $1,006,000 after acquiring an additional 136 shares during the period. 11.14% of the stock is owned by institutional investors and hedge funds.

AMCON Distributing Company Profile

AMCON Distributing, headquartered in Brentwood, Tennessee, operates as a wholesale distributor of tobacco, vaping products and convenience store items. The company's core portfolio includes cigarettes, smokeless tobacco, e-liquids, snacks, beverages and general merchandise. Through its network of regional warehouses and dedicated delivery fleet, AMCON serves convenience stores, independent retailers, gas stations and small grocery outlets, offering daily restocking and inventory management solutions tailored to each customer's needs.

Covering multiple states across the Southeastern and South Central United States, AMCON maintains distribution points in Tennessee, Georgia, Alabama, Kentucky, Mississippi and portions of Florida and Texas.

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