StockNews.com Begins Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

Investment analysts at StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the stock.

AMCON Distributing Stock Down 9.1 %

Shares of DIT opened at $119.82 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 1.15. AMCON Distributing has a fifty-two week low of $118.25 and a fifty-two week high of $209.50. The company has a market capitalization of $77.88 million, a PE ratio of 16.71 and a beta of 0.54.

Hedge Funds Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC lifted its holdings in AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned about 1.30% of AMCON Distributing worth $1,152,000 as of its most recent SEC filing. Institutional investors own 11.14% of the company’s stock.

AMCON Distributing Company Profile

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.