Pekin Hardy Strauss Inc. Sells 12,250 Shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR)

Pekin Hardy Strauss Inc. trimmed its holdings in shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR - Free Report) by 60.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,040 shares of the company's stock after selling 12,250 shares during the quarter. Pekin Hardy Strauss Inc.'s holdings in Distribution Solutions Group were worth $225,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GAMMA Investing LLC lifted its position in Distribution Solutions Group by 1,888.8% in the first quarter. GAMMA Investing LLC now owns 2,128 shares of the company's stock worth $60,000 after purchasing an additional 2,021 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Distribution Solutions Group in the fourth quarter valued at $68,000. Wells Fargo & Company MN raised its holdings in shares of Distribution Solutions Group by 47.8% during the fourth quarter. Wells Fargo & Company MN now owns 5,055 shares of the company's stock worth $174,000 after acquiring an additional 1,634 shares in the last quarter. JT Stratford LLC purchased a new stake in shares of Distribution Solutions Group during the fourth quarter worth $207,000. Finally, Millennium Management LLC acquired a new position in Distribution Solutions Group during the fourth quarter worth $246,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research lowered their target price on shares of Distribution Solutions Group from $44.00 to $39.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th.

Distribution Solutions Group Stock Performance

Shares of NASDAQ:DSGR traded down $0.63 during midday trading on Friday, hitting $28.58. The company's stock had a trading volume of 39,294 shares, compared to its average volume of 52,865. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 1,429.71 and a beta of 0.59. The stock's 50 day simple moving average is $27.36 and its 200 day simple moving average is $29.20. Distribution Solutions Group, Inc. has a fifty-two week low of $21.87 and a fifty-two week high of $41.47. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.45 and a current ratio of 2.74.

Distribution Solutions Group (NASDAQ:DSGR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Distribution Solutions Group had a net margin of 0.06% and a return on equity of 10.88%. The business had revenue of $478.03 million during the quarter, compared to analyst estimates of $497.17 million. As a group, research analysts anticipate that Distribution Solutions Group, Inc. will post 1.28 earnings per share for the current year.

Distribution Solutions Group Company Profile

Distribution Solutions Group, Inc, a specialty distribution company, engages in the provision of value-added distribution solutions in North America, Europe, Asia, South America, and the Middle East. The company provides its solutions to the maintenance, repair, and operations (MRO); original equipment manufacturer (OEM); and industrial technology markets.