ScanSource (NASDAQ:SCSC) Sets New 12-Month Low Following Insider Selling

ScanSource, Inc. (NASDAQ:SCSC) shares hit a new 52-week low during trading on Monday after an insider sold shares in the company. The company traded as low as $37.49 and last traded at $37.73, with a volume of 26715 shares trading hands. The stock had previously closed at $38.02.

Specifically, CEO Michael L. Baur sold 1,994 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $38.00, for a total transaction of $75,772.00. Following the sale, the chief executive officer now owns 142,760 shares in the company, valued at approximately $5,424,880. This trade represents a 1.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael L. Baur sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $38.91, for a total transaction of $583,650.00. Following the transaction, the chief executive officer now owns 162,760 shares of the company’s stock, valued at approximately $6,332,991.60. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

ScanSource Stock Performance

The stock has a fifty day simple moving average of $47.96 and a two-hundred day simple moving average of $48.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. The stock has a market cap of $890.54 million, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.16 and a beta of 1.43.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same period last year, the business earned $0.85 earnings per share. Analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Institutional Investors Weigh In On ScanSource

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its position in ScanSource by 18.3% in the third quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock valued at $131,828,000 after purchasing an additional 425,233 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of ScanSource by 13.2% during the third quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after purchasing an additional 127,883 shares during the last quarter. American Century Companies Inc. raised its holdings in ScanSource by 13.1% in the 4th quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company’s stock valued at $36,030,000 after buying an additional 87,721 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in ScanSource by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after buying an additional 91,069 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in ScanSource by 12.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 220,923 shares of the industrial products company’s stock worth $10,611,000 after buying an additional 24,264 shares during the period. 97.91% of the stock is owned by institutional investors.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.