AMCON Distributing (NYSEAMERICAN:DIT) Coverage Initiated at StockNews.com

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

AMCON Distributing Stock Down 0.6 %

Shares of NYSEAMERICAN:DIT opened at $134.07 on Friday. AMCON Distributing has a 12-month low of $118.25 and a 12-month high of $209.50. The company has a market cap of $87.15 million, a P/E ratio of 18.70 and a beta of 0.54. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.91 and a current ratio of 2.46.

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC boosted its holdings in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,756 shares of the company’s stock after acquiring an additional 134 shares during the quarter. Empowered Funds LLC owned 0.44% of AMCON Distributing worth $399,000 at the end of the most recent reporting period. 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.