SG Americas Securities LLC Raises Stake in ScanSource, Inc. (NASDAQ:SCSC)

SG Americas Securities LLC raised its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,857 shares of the industrial products company’s stock after purchasing an additional 608 shares during the quarter. SG Americas Securities LLC’s holdings in ScanSource were worth $329,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SCSC. CWM LLC lifted its holdings in ScanSource by 164.1% during the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 402 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of ScanSource in the second quarter worth $40,000. Quest Partners LLC purchased a new position in shares of ScanSource in the second quarter worth $41,000. Innealta Capital LLC purchased a new position in shares of ScanSource in the second quarter worth $58,000. Finally, ProShare Advisors LLC purchased a new position in shares of ScanSource in the first quarter worth $220,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James downgraded shares of ScanSource from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th.

ScanSource Price Performance

SCSC stock opened at $48.57 on Friday. ScanSource, Inc. has a one year low of $27.86 and a one year high of $53.28. The company’s fifty day moving average price is $48.00 and its 200-day moving average price is $46.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.33 and a current ratio of 2.10. The company has a market capitalization of $1.20 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13). ScanSource had a return on equity of 8.32% and a net margin of 2.36%. The business had revenue of $746.11 million during the quarter, compared to the consensus estimate of $838.60 million. During the same quarter in the prior year, the firm posted $0.76 EPS. The company’s revenue for the quarter was down 21.2% on a year-over-year basis. On average, equities analysts anticipate that ScanSource, Inc. will post 3.24 EPS for the current fiscal year.

ScanSource Profile

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.