Short Interest in Distribution Solutions Group, Inc. (NASDAQ:DSGR) Drops By 22.3%

Distribution Solutions Group, Inc. (NASDAQ:DSGR) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 318,697 shares, a decline of 22.3% from the January 29th total of 410,411 shares. Based on an average daily volume of 114,763 shares, the short-interest ratio is presently 2.8 days. Approximately 2.9% of the shares of the company are sold short. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 114,763 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

DSGR has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Distribution Solutions Group in a research note on Monday, December 29th. Barrington Research reissued an “outperform” rating and issued a $41.00 price target on shares of Distribution Solutions Group in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Distribution Solutions Group has a consensus rating of “Hold” and a consensus target price of $41.00.

Institutional Investors Weigh In On Distribution Solutions Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC increased its holdings in shares of Distribution Solutions Group by 214.2% during the first quarter. Jane Street Group LLC now owns 23,586 shares of the company’s stock worth $660,000 after buying an additional 16,080 shares in the last quarter. AlphaQuest LLC acquired a new stake in Distribution Solutions Group during the 2nd quarter worth approximately $234,000. Geode Capital Management LLC raised its holdings in Distribution Solutions Group by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 261,782 shares of the company’s stock worth $7,193,000 after purchasing an additional 6,038 shares during the last quarter. Swiss National Bank lifted its position in shares of Distribution Solutions Group by 20.6% in the 2nd quarter. Swiss National Bank now owns 22,204 shares of the company’s stock worth $610,000 after purchasing an additional 3,800 shares during the period. Finally, Nantahala Capital Management LLC acquired a new stake in shares of Distribution Solutions Group during the second quarter worth $5,791,000. Institutional investors own 91.64% of the company’s stock.

Distribution Solutions Group Stock Down 1.2%

Distribution Solutions Group stock opened at $29.53 on Monday. Distribution Solutions Group has a twelve month low of $21.87 and a twelve month high of $33.80. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.38 and a current ratio of 2.50. The firm’s 50 day moving average price is $29.47 and its two-hundred day moving average price is $29.40. The firm has a market cap of $1.36 billion, a PE ratio of -128.00 and a beta of 0.51.

Distribution Solutions Group declared that its board has approved a share buyback plan on Monday, November 17th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Distribution Solutions Group

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. It operates through three segments: Lawson, Gexpro Services, and TestEquity. The Lawson segment distributes of specialty products and services to the industrial, commercial, institutional, and government MRO market.