AMCON Distributing (NYSEAMERICAN:DIT) Stock Crosses Below 200-Day Moving Average – Time to Sell?

AMCON Distributing Company (NYSEAMERICAN:DIT)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $78.09 and traded as low as $68.50. AMCON Distributing shares last traded at $68.50, with a volume of 463 shares changing hands.

AMCON Distributing Trading Down 0.7%

The stock has a market cap of $66.64 million, a P/E 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. The firm’s fifty day simple moving average is $74.80 and its 200-day simple moving average is $78.01.

AMCON Distributing (NYSEAMERICAN:DIT) last posted its quarterly earnings data on Monday, April 20th. The company reported ($2.34) earnings per share for the quarter. AMCON Distributing had a return on equity of 0.38% and a net margin of 0.01%.The firm had revenue of $715.65 million for the quarter.

AMCON Distributing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. AMCON Distributing’s dividend payout ratio is 6.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DIT. Dimensional Fund Advisors LP boosted its position in shares of AMCON Distributing by 49.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company’s stock valued at $2,842,000 after purchasing an additional 10,393 shares in the last quarter. Renaissance Technologies LLC increased its holdings in AMCON Distributing by 50.0% in the first quarter. Renaissance Technologies LLC now owns 14,001 shares of the company’s stock worth $1,260,000 after purchasing an additional 4,666 shares in the last quarter. Empowered Funds LLC lifted its stake in AMCON Distributing by 59.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock valued at $426,000 after buying an additional 1,782 shares during the period. Finally, Bridgeway Capital Management LLC lifted its stake in AMCON Distributing by 1.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company’s stock valued at $1,006,000 after buying an additional 136 shares during the period. 11.14% of the stock is owned by institutional investors and hedge funds.

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.