Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CEO Sells 7,798 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 7,798 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $43.81, for a total transaction of $341,630.38. Following the completion of the transaction, the chief executive officer now owns 118,080 shares of the company’s stock, valued at approximately $5,173,084.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ScanSource Trading Up 3.9 %

Shares of SCSC opened at $44.12 on Friday. The stock’s fifty day simple moving average is $45.93 and its 200-day simple moving average is $42.69. The firm has a market capitalization of $1.09 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.25 and a beta of 1.44. ScanSource, Inc. has a 12-month low of $26.99 and a 12-month high of $50.95. The company has a quick ratio of 1.38, a current ratio of 2.20 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). ScanSource had a net margin of 2.31% and a return on equity of 8.28%. The business had revenue of $752.60 million for the quarter, compared to analyst estimates of $822.10 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was down 15.0% on a year-over-year basis. As a group, research analysts predict that ScanSource, Inc. will post 3.31 earnings per share for the current year.

Institutional Trading of ScanSource

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP grew its stake in shares of ScanSource by 67.9% during the first quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock worth $46,501,000 after purchasing an additional 426,945 shares during the period. Allianz Asset Management GmbH acquired a new position in shares of ScanSource during the 4th quarter worth about $1,419,000. Sollinda Capital Management LLC acquired a new position in shares of ScanSource during the 4th quarter worth about $277,000. Dimensional Fund Advisors LP increased its stake in shares of ScanSource by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,934,258 shares of the industrial products company’s stock valued at $76,616,000 after acquiring an additional 27,751 shares during the last quarter. Finally, Pzena Investment Management LLC raised its position in shares of ScanSource by 4.9% in the 4th quarter. Pzena Investment Management LLC now owns 1,893,151 shares of the industrial products company’s stock valued at $74,988,000 after acquiring an additional 89,103 shares during the period. Institutional investors own 97.91% of the company’s stock.

About ScanSource

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.