ScanSource, Inc. (NASDAQ:SCSC) CEO Sells $747,565.17 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 15,081 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $49.57, for a total transaction of $747,565.17. Following the sale, the chief executive officer now owns 177,760 shares in the company, valued at $8,811,563.20. The trade was a 7.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

ScanSource Stock Performance

Shares of ScanSource stock opened at $49.38 on Tuesday. 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, Inc. has a 52 week low of $31.01 and a 52 week high of $53.76. The firm’s 50 day moving average is $47.41 and its two-hundred day moving average is $47.17. The firm has a market capitalization of $1.18 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.39 and a beta of 1.42.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWM LLC boosted its stake in shares of 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 buying an additional 402 shares during the period. Gladius Capital Management LP purchased a new stake in ScanSource during the 3rd quarter valued at approximately $30,000. Point72 DIFC Ltd acquired a new stake in ScanSource during the 3rd quarter worth approximately $35,000. nVerses Capital LLC purchased a new position in shares of ScanSource in the 2nd quarter valued at approximately $40,000. Finally, Quest Partners LLC acquired a new position in shares of ScanSource in the second quarter valued at approximately $41,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

About ScanSource

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.