Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CEO Sells 8,312 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 8,312 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total transaction of $407,121.76. Following the completion of the transaction, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at approximately $8,706,684.80. This represents a 4.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ScanSource Price Performance

SCSC stock opened at $51.10 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. ScanSource, Inc. has a one year low of $31.01 and a one year high of $53.76. The stock has a market cap of $1.22 billion, a PE ratio of 16.38, a P/E/G ratio of 1.42 and a beta of 1.42. The firm has a 50 day simple moving average of $47.69 and a two-hundred day simple moving average of $47.24.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The business 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 company earned $0.74 EPS. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, analysts predict that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Hedge Funds Weigh In On ScanSource

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC grew its holdings in shares of ScanSource by 164.1% during the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 402 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of ScanSource during the 3rd quarter valued at $30,000. Point72 DIFC Ltd bought a new position in shares of ScanSource during the 3rd quarter valued at $35,000. nVerses Capital LLC bought a new position in shares of ScanSource during the 2nd quarter valued at $40,000. Finally, Quest Partners LLC bought a new position in shares of ScanSource during the 2nd quarter valued at $41,000. Institutional investors own 97.91% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James cut 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.