Distribution Solutions Group (NASDAQ:DSGR) Announces Quarterly Earnings Results

Distribution Solutions Group (NASDAQ:DSGR) issued its quarterly earnings results on Thursday. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.07), FiscalAI reports. Distribution Solutions Group had a return on equity of 9.02% and a net margin of 0.42%.The business had revenue of $496.00 million during the quarter, compared to the consensus estimate of $489.30 million.

Distribution Solutions Group Trading Up 0.4%

DSGR traded up $0.11 during trading on Thursday, reaching $27.06. The company had a trading volume of 72,331 shares, compared to its average volume of 113,105. The firm’s 50-day simple moving average is $26.48 and its 200 day simple moving average is $27.89. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 150.33 and a beta of 0.57. Distribution Solutions Group has a 12-month low of $19.02 and a 12-month high of $33.80. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.35 and a current ratio of 2.56.

Insiders Place Their Bets

In related news, Director Robert Zamarripa purchased 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $21.23 per share, with a total value of $297,220.00. Following the purchase, the director owned 47,105 shares of the company’s stock, valued at $1,000,039.15. This trade represents a 42.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 78.80% of the company’s stock.

Hedge Funds Weigh In On Distribution Solutions Group

A number of institutional investors have recently bought and sold shares of DSGR. Jane Street Group LLC increased its stake in Distribution Solutions Group by 214.2% in the 1st quarter. Jane Street Group LLC now owns 23,586 shares of the company’s stock worth $660,000 after purchasing an additional 16,080 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Distribution Solutions Group during the 2nd quarter valued at about $5,791,000. BNP Paribas Financial Markets grew its stake in Distribution Solutions Group by 53.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,170 shares of the company’s stock valued at $32,000 after acquiring an additional 408 shares in the last quarter. Monimus Capital Management LP grew its stake in Distribution Solutions Group by 13.0% during the 2nd quarter. Monimus Capital Management LP now owns 101,009 shares of the company’s stock valued at $2,775,000 after acquiring an additional 11,590 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Distribution Solutions Group by 62.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,080 shares of the company’s stock valued at $454,000 after acquiring an additional 5,779 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

DSGR has been the topic of several research reports. Zacks Research cut shares of Distribution Solutions Group from a “hold” rating to a “strong sell” rating in a research report on Friday, March 13th. Barrington Research reiterated an “outperform” rating and issued a $35.00 price target on shares of Distribution Solutions Group in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $35.00.

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.