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

Distribution Solutions Group, Inc. (NASDAQ:DSGR) was the target of a significant 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. Currently, 3.3% of the shares of the company are sold short. Based on an average daily volume of 57,700 shares, the short-interest ratio is currently 5.4 days.

Analysts Set New Price Targets

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

Distribution Solutions Group Price Performance

Shares of NASDAQ DSGR traded down $0.03 during midday trading on Wednesday, reaching $29.37. The company’s stock had a trading volume of 36,456 shares, compared to its average volume of 57,676. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.42 and a current ratio of 2.72. The company has a market cap of $1.37 billion, a P/E ratio of -69.93 and a beta of 0.99. The business’s 50 day moving average price is $32.80 and its two-hundred day moving average price is $32.60. Distribution Solutions Group has a fifty-two week low of $22.91 and a fifty-two week high of $37.31.

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

Insider Buying and Selling

In other Distribution Solutions Group news, Director Robert Zamarripa bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $30.24 per share, with a total value of $120,960.00. Following the acquisition, the director now owns 33,105 shares of the company’s stock, valued at $1,001,095.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 76.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Distribution Solutions Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its stake in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Distribution Solutions Group by 87.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,727 shares of the company’s stock valued at $487,000 after buying an additional 8,736 shares in the last quarter. Quadrature Capital Ltd grew its position in Distribution Solutions Group by 111.7% in the third quarter. Quadrature Capital Ltd now owns 28,108 shares of the company’s stock valued at $731,000 after acquiring an additional 14,828 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Distribution Solutions Group during the fourth quarter worth about $420,000. Finally, Brighton Jones LLC bought a new position in shares of Distribution Solutions Group in the fourth quarter worth about $701,000. Institutional investors own 91.64% of the company’s stock.

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.