Distribution Solutions Group, Inc. (NASDAQ:DSGR) Short Interest Down 5.6% in October

Distribution Solutions Group, Inc. (NASDAQ:DSGR) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 280,500 shares, a drop of 5.6% from the October 15th total of 297,100 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average daily volume of 46,400 shares, the days-to-cover ratio is presently 6.0 days.

Analysts Set New Price Targets

DSGR has been the subject of several analyst reports. Stephens restated an “overweight” rating and set a $42.00 price target on shares of Distribution Solutions Group in a research report on Monday, August 5th. Barrington Research boosted their target price on Distribution Solutions Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th.

Distribution Solutions Group Stock Down 1.9 %

Shares of NASDAQ DSGR opened at $37.61 on Monday. The firm’s fifty day moving average is $38.26 and its 200 day moving average is $34.95. Distribution Solutions Group has a 52 week low of $24.42 and a 52 week high of $41.47. The company has a quick ratio of 1.55, a current ratio of 2.81 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 940.49 and a beta of 0.96.

Distribution Solutions Group (NASDAQ:DSGR) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $468.02 million during the quarter, compared to analysts’ expectations of $469.80 million. Distribution Solutions Group had a net margin of 0.13% and a return on equity of 8.89%. During the same quarter in the previous year, the firm posted $0.17 EPS. On average, equities research analysts expect that Distribution Solutions Group will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On Distribution Solutions Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC increased its stake in shares of Distribution Solutions Group by 342.0% during the third quarter. Barclays PLC now owns 17,007 shares of the company’s stock valued at $654,000 after buying an additional 13,159 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Distribution Solutions Group during the 3rd quarter valued at $87,000. BNP Paribas Financial Markets raised its holdings in Distribution Solutions Group by 21.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,014 shares of the company’s stock worth $193,000 after purchasing an additional 891 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Distribution Solutions Group in the 3rd quarter worth about $251,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Distribution Solutions Group by 13.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,536 shares of the company’s stock valued at $829,000 after purchasing an additional 2,569 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.