Gladius Capital Management LP Invests $30,000 in ScanSource, Inc. (NASDAQ:SCSC)

Gladius Capital Management LP purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 625 shares of the industrial products company’s stock, valued at approximately $30,000.

Several other institutional investors have also modified their holdings of SCSC. Exchange Traded Concepts LLC increased its stake in ScanSource by 1.1% during the third quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock worth $979,000 after acquiring an additional 220 shares during the last quarter. EMC Capital Management increased its position in shares of ScanSource by 3.5% during the 1st quarter. EMC Capital Management now owns 7,398 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 247 shares during the last quarter. Rhumbline Advisers increased its position in shares of ScanSource by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company’s stock worth $3,798,000 after purchasing an additional 264 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in ScanSource by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company’s stock valued at $418,000 after buying an additional 308 shares during the period. Finally, CWM LLC lifted its position in ScanSource by 164.1% in the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after buying an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Stock Down 1.1 %

Shares of NASDAQ SCSC opened at $48.89 on Friday. ScanSource, Inc. has a 52-week low of $31.01 and a 52-week high of $53.76. The business’s 50 day moving average is $47.33 and its two-hundred day moving average is $47.08. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.39 and a beta of 1.42. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.07. The business had revenue of $775.58 million for the quarter, compared to analysts’ expectations of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The business’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. Research analysts predict that ScanSource, Inc. will post 3.51 EPS for the current year.

Analyst Ratings Changes

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

ScanSource Company 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.