AMCON Distributing (NYSEAMERICAN:DIT) Stock Price Passes Below 200 Day Moving Average – What’s Next?

AMCON Distributing Company (NYSEAMERICAN:DIT)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $78.46 and traded as low as $68.00. AMCON Distributing shares last traded at $68.00, with a volume of 239 shares.

AMCON Distributing Stock Down 6.7%

The company has a fifty day moving average of $80.99 and a two-hundred day moving average of $78.46. The company has a market cap of $66.64 million, a PE ratio of 145.72 and a beta of -0.22. 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) last posted its quarterly earnings data on Monday, April 20th. The company reported ($2.34) EPS for the quarter. The firm had revenue of $715.65 million for the quarter. AMCON Distributing had a return on equity of 0.38% and a net margin of 0.01%.

AMCON Distributing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, May 11th. AMCON Distributing’s dividend payout ratio (DPR) is 6.69%.

Hedge Funds Weigh In On AMCON Distributing

Several hedge funds have recently added to or reduced their stakes in DIT. Bridgeway Capital Management LLC raised its position in AMCON Distributing by 1.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company’s stock worth $1,006,000 after purchasing an additional 136 shares during the period. Renaissance Technologies LLC boosted its position in shares of AMCON Distributing by 50.0% during the first quarter. Renaissance Technologies LLC now owns 14,001 shares of the company’s stock valued at $1,260,000 after buying an additional 4,666 shares during the period. Dimensional Fund Advisors LP boosted its position 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 valued at $2,842,000 after buying an additional 10,393 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of AMCON Distributing by 4.7% during the fourth quarter. Empowered Funds LLC now owns 3,008 shares of the company’s stock valued at $333,000 after buying an additional 136 shares during the last quarter. 11.14% of the stock is currently owned by institutional investors.

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.