AMCON Distributing (NYSEAMERICAN:DIT) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

AMCON Distributing Company (NYSEAMERICAN:DIT)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $112.85 and traded as low as $111.99. AMCON Distributing shares last traded at $113.00, with a volume of 619 shares.

AMCON Distributing Price Performance

The firm has a market cap of $73.48 million, a P/E ratio of 52.34 and a beta of 0.43. The stock’s 50-day moving average is $116.37 and its 200-day moving average is $112.86. 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 (NYSEAMERICAN:DIT) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.80 earnings per share (EPS) for the quarter. AMCON Distributing had a net margin of 0.05% and a return on equity of 1.17%. The company had revenue of $746.30 million for the quarter.

Hedge Funds Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC grew its position in AMCON Distributing Company (NYSEAMERICAN:DIT) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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. Institutional investors and hedge funds own 11.14% of the company’s stock.

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.