Distribution Solutions Group, Inc. (NASDAQ:DSGR) Short Interest Up 11.2% in June

Distribution Solutions Group, Inc. (NASDAQ:DSGR) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 309,900 shares, a growth of 11.2% from the May 31st total of 278,600 shares. Based on an average daily trading volume, of 57,700 shares, the days-to-cover ratio is presently 5.4 days. Approximately 3.3% of the company’s shares are sold short.

Insider Activity at Distribution Solutions Group

In related news, Director Robert Zamarripa purchased 4,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were bought at an average price of $30.24 per share, for a total transaction of $120,960.00. Following the acquisition, the director now directly owns 33,105 shares in the company, valued at $1,001,095.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 76.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSGR. Barclays PLC lifted its stake in shares of Distribution Solutions Group by 64.6% during the third quarter. Barclays PLC now owns 3,301 shares of the company’s stock worth $85,000 after purchasing an additional 1,296 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Distribution Solutions Group by 8.6% during the first quarter. BNP Paribas Financial Markets now owns 8,500 shares of the company’s stock worth $302,000 after purchasing an additional 676 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Distribution Solutions Group by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,417 shares of the company’s stock worth $335,000 after purchasing an additional 406 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Distribution Solutions Group during the first quarter worth about $352,000. Finally, California State Teachers Retirement System lifted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DSGR. Barrington Research reissued an “outperform” rating and issued a $40.00 target price on shares of Distribution Solutions Group in a research report on Tuesday, May 28th. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of Distribution Solutions Group in a research report on Monday, May 6th.

Distribution Solutions Group Price Performance

NASDAQ DSGR traded down $0.03 during mid-day trading on Wednesday, hitting $29.37. The stock had a trading volume of 36,456 shares, compared to its average volume of 57,676. Distribution Solutions Group has a 52-week low of $22.91 and a 52-week high of $37.31. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -69.93 and a beta of 0.99. The company has a 50 day simple moving average of $32.80 and a 200 day simple moving average of $32.60. The company has a quick ratio of 1.42, a current ratio of 2.72 and a debt-to-equity ratio of 0.82.

Distribution Solutions Group (NASDAQ:DSGR) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). The company had revenue of $416.09 million for the quarter, compared to analysts’ expectations of $417.40 million. Distribution Solutions Group had a positive return on equity of 6.21% and a negative net margin of 1.23%. Equities analysts forecast that Distribution Solutions Group will post 1.19 EPS for the current fiscal year.

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.