Peregrine Capital Management LLC Sells 450 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Peregrine Capital Management LLC reduced its position in ScanSource, Inc. (NASDAQ:SCSC) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,379 shares of the industrial products company’s stock after selling 450 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.52% of ScanSource worth $5,733,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. O Shaughnessy Asset Management LLC bought a new stake in ScanSource in the first quarter valued at about $1,651,000. Empowered Funds LLC lifted its position in shares of ScanSource by 86.1% during the 1st quarter. Empowered Funds LLC now owns 114,327 shares of the industrial products company’s stock worth $5,035,000 after buying an additional 52,895 shares during the period. Wasatch Advisors LP lifted its position in shares of ScanSource by 67.9% during the 1st quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock worth $46,501,000 after buying an additional 426,945 shares during the period. Allianz Asset Management GmbH acquired a new stake in ScanSource in the 4th quarter valued at $1,419,000. Finally, Sollinda Capital Management LLC bought a new stake in ScanSource in the fourth quarter valued at $277,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Stock Down 2.6 %

NASDAQ SCSC opened at $50.94 on Friday. The stock’s 50 day simple moving average is $47.01 and its 200 day simple moving average is $45.08. ScanSource, Inc. has a one year low of $27.86 and a one year high of $53.28. The firm has a market cap of $1.26 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.20 and a quick ratio of 1.38.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). ScanSource had a return on equity of 8.28% and a net margin of 2.31%. The business had revenue of $746.11 million for the quarter, compared to the consensus estimate of $838.60 million. During the same quarter in the previous year, the company posted $0.76 EPS. ScanSource’s revenue for the quarter was down 21.2% on a year-over-year basis. As a group, sell-side analysts forecast that ScanSource, Inc. will post 3.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael L. Baur sold 34,203 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $42.49, for a total transaction of $1,453,285.47. Following the sale, the chief executive officer now directly owns 118,080 shares of the company’s stock, valued at $5,017,219.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael L. Baur sold 24,093 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $43.40, for a total transaction of $1,045,636.20. Following the completion of the sale, the chief executive officer now owns 118,080 shares in the company, valued at $5,124,672. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael L. Baur sold 34,203 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $42.49, for a total value of $1,453,285.47. Following the completion of the transaction, the chief executive officer now owns 118,080 shares in the company, valued at approximately $5,017,219.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,531 shares of company stock valued at $5,025,745. Insiders own 4.56% of the company’s stock.

Analyst Ratings Changes

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

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.