AMCON Distributing (NYSEAMERICAN:DIT) Shares Pass Below 200 Day Moving Average – Here’s Why

AMCON Distributing Company (NYSEAMERICAN:DIT) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $113.52 and traded as low as $111.86. AMCON Distributing shares last traded at $111.86, with a volume of 639 shares changing hands.

AMCON Distributing Stock Performance

The firm has a 50 day moving average of $110.22 and a two-hundred day moving average of $113.50. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.64 and a quick ratio of 0.98. The stock has a market cap of $72.71 million, a PE ratio of 68.63 and a beta of 0.02.

AMCON Distributing shares are scheduled to split on Monday, March 23rd. The 1.5-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Sunday, March 22nd.

AMCON Distributing (NYSEAMERICAN:DIT) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $1.28 earnings per share for the quarter. AMCON Distributing had a net margin of 0.04% and a return on equity of 0.90%. The firm had revenue of $730.06 million during the quarter.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC boosted its stake in shares of AMCON Distributing Company (NYSEAMERICAN:DIT) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,008 shares of the company’s stock after acquiring an additional 136 shares during the quarter. Empowered Funds LLC owned about 0.46% of AMCON Distributing worth $333,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 11.14% of the company’s stock.

About AMCON Distributing

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.