StockNews.com Initiates Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

StockNews.com began coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research note issued on Friday. The brokerage set a “hold” rating on the stock.

AMCON Distributing Stock Up 2.7 %

Shares of AMCON Distributing stock opened at $135.00 on Friday. The firm has a market capitalization of $87.75 million, a PE ratio of 18.83 and a beta of 0.57. The company has a current ratio of 2.46, a quick ratio of 0.91 and a debt-to-equity ratio of 1.23. AMCON Distributing has a 52 week low of $118.25 and a 52 week high of $209.44.

Institutional Trading of AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC raised its position in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,756 shares of the company’s stock after acquiring an additional 134 shares during the quarter. Empowered Funds LLC owned approximately 0.44% of AMCON Distributing worth $399,000 as of its most recent SEC filing. Institutional investors and hedge funds own 11.14% of the company’s stock.

About AMCON Distributing

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.