Distribution Solutions Group, Inc. (NASDAQ:DSGR) Short Interest Up 31.0% in May

Distribution Solutions Group, Inc. (NASDAQ:DSGR) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 396,200 shares, an increase of 31.0% from the April 30th total of 302,500 shares. Based on an average daily trading volume, of 69,500 shares, the days-to-cover ratio is currently 5.7 days. Currently, 4.3% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Barrington Research lowered their price objective on shares of Distribution Solutions Group from $44.00 to $39.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th.

Institutional Trading of Distribution Solutions Group

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Distribution Solutions Group by 3.8% in the 1st quarter. Rhumbline Advisers now owns 14,710 shares of the company’s stock valued at $412,000 after buying an additional 532 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Distribution Solutions Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 81,386 shares of the company’s stock worth $2,800,000 after purchasing an additional 537 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Distribution Solutions Group by 26.8% during the fourth quarter. SG Americas Securities LLC now owns 4,952 shares of the company’s stock worth $170,000 after buying an additional 1,046 shares during the period. Barclays PLC raised its holdings in shares of Distribution Solutions Group by 8.9% in the 4th quarter. Barclays PLC now owns 18,513 shares of the company’s stock valued at $637,000 after buying an additional 1,506 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in Distribution Solutions Group by 47.8% during the 4th quarter. Wells Fargo & Company MN now owns 5,055 shares of the company’s stock worth $174,000 after acquiring an additional 1,634 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Distribution Solutions Group Price Performance

NASDAQ DSGR opened at $27.18 on Wednesday. Distribution Solutions Group has a 12-month low of $21.87 and a 12-month high of $41.47. The firm’s fifty day simple moving average is $26.65 and its two-hundred day simple moving average is $31.13. The company has a current ratio of 2.81, a quick ratio of 1.55 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $1.26 billion, a P/E ratio of 689.42 and a beta of 0.56.

Distribution Solutions Group (NASDAQ:DSGR) last announced its earnings results on Thursday, May 1st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The business had revenue of $478.03 million for the quarter, compared to analyst estimates of $497.17 million. Distribution Solutions Group had a net margin of 0.13% and a return on equity of 8.89%. Analysts forecast that Distribution Solutions Group will post 1.28 EPS for the current fiscal year.

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.