Short Interest in Distribution Solutions Group, Inc. (NASDAQ:DSGR) Grows By 55.6%
by Kim Johansen · The Markets DailyDistribution Solutions Group, Inc. (NASDAQ:DSGR – Get Free Report) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 473,119 shares, an increase of 55.6% from the February 26th total of 304,057 shares. Approximately 4.4% of the company’s shares are sold short. Based on an average trading volume of 210,891 shares, the days-to-cover ratio is currently 2.2 days.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on DSGR. Zacks Research downgraded shares of Distribution Solutions Group from a “hold” rating to a “strong sell” rating in a research report on Friday, March 13th. Barrington Research reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Distribution Solutions Group in a research note on Monday, March 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Distribution Solutions Group in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $35.00.
Get Our Latest Analysis on DSGR
Distribution Solutions Group Stock Up 0.1%
Shares of Distribution Solutions Group stock traded up $0.03 during trading hours on Friday, reaching $26.02. The company’s stock had a trading volume of 122,289 shares, compared to its average volume of 249,670. Distribution Solutions Group has a one year low of $19.02 and a one year high of $33.80. The company has a market capitalization of $1.20 billion, a P/E ratio of 144.56 and a beta of 0.51. The stock’s fifty day simple moving average is $27.83 and its two-hundred day simple moving average is $28.39. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.35 and a current ratio of 2.56.
Distribution Solutions Group (NASDAQ:DSGR – Get Free Report) last posted its earnings results on Thursday, March 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.14). Distribution Solutions Group had a return on equity of 9.02% and a net margin of 0.42%.The business had revenue of $481.60 million for the quarter, compared to the consensus estimate of $496.30 million. On average, research analysts forecast that Distribution Solutions Group will post 1.28 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Robert Zamarripa purchased 14,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was purchased at an average price of $21.23 per share, for a total transaction of $297,220.00. Following the acquisition, the director owned 47,105 shares in the company, valued at $1,000,039.15. This trade represents a 42.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 79.80% of the stock is owned by insiders.
Institutional Trading of Distribution Solutions Group
Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in 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 buying an additional 408 shares in the last quarter. Quarry LP bought a new position in Distribution Solutions Group during the 3rd quarter valued at $42,000. Covestor Ltd lifted its stake in Distribution Solutions Group by 27.3% during the 3rd quarter. Covestor Ltd now owns 2,232 shares of the company’s stock valued at $67,000 after acquiring an additional 478 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Distribution Solutions Group during the 3rd quarter worth $80,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Distribution Solutions Group in the 3rd quarter worth $226,000. 91.64% of the stock is owned by hedge funds and other institutional investors.
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.