Every year it seems a low float stock takes off the week of Thanksgiving, especially the day after Thanksgiving (see Pointer Telocation (NASDAQ:PNTR) last
year). This year, one stock to keep watch on is AMCON Distributing Company (NYSEMKT:DIT). DIT has
approximately a 300k float and approximately 800k shares outstanding.
The Company recently reported $5.13 in eps for the year. However that
amount included legal fees of $2 million dollars ($1 million in the
second and third quarters) that are no longer costs going forward as
they have settled the lawsuits. EPS from continuing operations for the
most recent year ended was $4.89. The $2 million in legal expenses for
cases that have now been settled would have made EPS for the year over
$7 (2 million divided by approximately 800k outstanding shares). The
Company reported $1.90 eps for the fourth quarter from continuing
operations representing the first partial quarter with legal expenses
gone. With this kind of eps, low float and outstanding structure,
DIT is a stock to keep on the radar. Industry PE is 18-20.
is a leading wholesale distributor of consumer products, including
beverages, candy, tobacco, groceries, food service, frozen and chilled
foods, and health and beauty care products with distribution centers in
Illinois, Missouri, Nebraska, North Dakota and South Dakota.
Chamberlin's Natural Foods, Inc. and Health Food Associates, Inc., both
wholly-owned subsidiaries of The Healthy Edge, Inc., operate a total of
13 health and natural product retail stores in central Florida (6),
Kansas, Missouri, Nebraska and Oklahoma (4). The retail stores operate
under the names Chamberlin's Market & Cafe and Akins Natural Foods