Assenagon Asset Management S.A. Sells 75,714 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Assenagon Asset Management S.A. decreased its stake in ScanSource, Inc. (NASDAQ:SCSC) by 42.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,496 shares of the industrial products company’s stock after selling 75,714 shares during the period. Assenagon Asset Management S.A. owned 0.41% of ScanSource worth $4,497,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SCSC. CWM LLC grew its holdings in ScanSource by 164.1% during the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 402 shares during the period. GAMMA Investing LLC bought a new position in ScanSource during the fourth quarter worth about $46,000. SG Americas Securities LLC bought a new position in ScanSource during the first quarter worth about $128,000. ProShare Advisors LLC bought a new position in ScanSource during the first quarter worth about $220,000. Finally, Sollinda Capital Management LLC bought a new position in ScanSource during the fourth quarter worth about $277,000. Institutional investors own 97.91% of the company’s stock.

ScanSource Trading Up 0.7 %

Shares of SCSC stock opened at $48.61 on Monday. The firm has a 50 day moving average price of $46.07 and a two-hundred day moving average price of $44.42. The company has a quick ratio of 1.38, a current ratio of 2.20 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.20 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. ScanSource, Inc. has a 12-month low of $26.99 and a 12-month high of $53.28.

Insiders Place Their Bets

In other ScanSource news, EVP Shana C. Smith sold 2,245 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $48.00, for a total transaction of $107,760.00. Following the completion of the sale, the executive vice president now directly owns 16,463 shares in the company, valued at $790,224. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael L. Baur sold 9,053 shares of ScanSource stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $47.76, for a total value of $432,371.28. Following the completion of the sale, the chief executive officer now directly owns 118,080 shares in the company, valued at $5,639,500.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Shana C. Smith sold 2,245 shares of ScanSource stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $48.00, for a total transaction of $107,760.00. Following the completion of the sale, the executive vice president now owns 16,463 shares of the company’s stock, valued at $790,224. The disclosure for this sale can be found here. Insiders sold 114,531 shares of company stock worth $5,025,745 over the last three months. Insiders own 4.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut ScanSource from an “outperform” rating to a “market perform” rating in a report on Thursday.

ScanSource Profile

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.