Short Interest in Distribution Solutions Group, Inc. (NASDAQ:DSGR) Declines By 5.6%

Distribution Solutions Group, Inc. (NASDAQ:DSGR) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 280,500 shares, a decline of 5.6% from the October 15th total of 297,100 shares. Based on an average daily volume of 46,400 shares, the days-to-cover ratio is presently 6.0 days. Approximately 3.0% of the shares of the company are short sold.

Distribution Solutions Group Trading Down 1.9 %

Distribution Solutions Group stock opened at $37.61 on Monday. The stock has a market cap of $1.76 billion, a P/E ratio of 940.49 and a beta of 0.96. Distribution Solutions Group has a fifty-two week low of $24.42 and a fifty-two week high of $41.47. The firm’s fifty day moving average price is $38.26 and its 200-day moving average price is $34.95. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.55 and a current ratio of 2.81.

Distribution Solutions Group (NASDAQ:DSGR) last announced its earnings results on Thursday, October 31st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $468.02 million during the quarter, compared to the consensus estimate of $469.80 million. Distribution Solutions Group had a return on equity of 8.89% and a net margin of 0.13%. During the same quarter in the prior year, the company earned $0.17 earnings per share. Equities research analysts forecast that Distribution Solutions Group will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Distribution Solutions Group

A number of institutional investors and hedge funds have recently bought and sold shares of DSGR. Price T Rowe Associates Inc. MD increased its holdings in shares of Distribution Solutions Group by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,417 shares of the company’s stock worth $335,000 after buying an additional 406 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Distribution Solutions Group by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 8,500 shares of the company’s stock valued at $302,000 after acquiring an additional 676 shares during the last quarter. Rhumbline Advisers raised its position in Distribution Solutions Group by 11.1% during the second quarter. Rhumbline Advisers now owns 13,986 shares of the company’s stock valued at $420,000 after purchasing an additional 1,398 shares in the last quarter. California State Teachers Retirement System lifted its stake in Distribution Solutions Group by 15.7% during the first quarter. California State Teachers Retirement System now owns 11,530 shares of the company’s stock worth $409,000 after purchasing an additional 1,563 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Distribution Solutions Group in the 3rd quarter worth about $87,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DSGR shares. Barrington Research raised their target price on Distribution Solutions Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of Distribution Solutions Group in a research report on Monday, August 5th.

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.