Short Interest in Distribution Solutions Group, Inc. (NASDAQ:DSGR) Increases By 36.6%

Distribution Solutions Group, Inc. (NASDAQ:DSGR) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 646,374 shares, an increase of 36.6% from the March 15th total of 473,119 shares. Based on an average daily trading volume, of 251,025 shares, the short-interest ratio is currently 2.6 days. Currently, 6.9% of the company’s stock are short sold.

Distribution Solutions Group Stock Performance

Shares of DSGR stock opened at $26.87 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.35 and a debt-to-equity ratio of 1.02. The firm has a fifty day moving average price of $27.18 and a 200 day moving average price of $28.02. The company has a market cap of $1.24 billion, a P/E ratio of 149.28 and a beta of 0.57. Distribution Solutions Group has a 12 month low of $19.02 and a 12 month high of $33.80.

Distribution Solutions Group (NASDAQ:DSGR) last issued its earnings results on Thursday, March 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The firm had revenue of $481.60 million for the quarter, compared to analyst estimates of $496.30 million. Distribution Solutions Group had a return on equity of 9.02% and a net margin of 0.42%. Sell-side analysts predict that Distribution Solutions Group will post 1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Distribution Solutions Group news, Director Robert Zamarripa bought 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average cost of $21.23 per share, with a total value of $297,220.00. Following the purchase, the director directly owned 47,105 shares in the company, valued at approximately $1,000,039.15. This represents a 42.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 78.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Distribution Solutions Group

A number of institutional investors and hedge funds have recently modified their holdings of DSGR. Jane Street Group LLC grew its stake 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 purchasing an additional 16,080 shares in the last quarter. Nantahala Capital Management LLC acquired a new position in shares of Distribution Solutions Group during the second quarter worth $5,791,000. BNP Paribas Financial Markets grew its stake in shares of Distribution Solutions Group by 53.5% during the second quarter. BNP Paribas Financial Markets now owns 1,170 shares of the company’s stock worth $32,000 after purchasing an additional 408 shares in the last quarter. Monimus Capital Management LP grew its stake in shares of Distribution Solutions Group by 13.0% during the second quarter. Monimus Capital Management LP now owns 101,009 shares of the company’s stock worth $2,775,000 after purchasing an additional 11,590 shares in the last quarter. Finally, Douglas Lane & Associates LLC acquired a new position in shares of Distribution Solutions Group during the third quarter worth $421,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

DSGR has been the topic of several recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $35.00 target price on shares of Distribution Solutions Group in a research note on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Distribution Solutions Group in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Distribution Solutions Group from a “hold” rating to a “strong sell” rating in a research note on Friday, March 13th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $35.00.

Distribution Solutions Group Company Profile

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.