ScanSource (NASDAQ:SCSC) Sets New 52-Week Low – Should You Sell?

Shares of ScanSource, Inc. (NASDAQ:SCSC) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $34.32 and last traded at $34.43, with a volume of 60548 shares trading hands. The stock had previously closed at $35.44.

ScanSource Trading Down 2.7 %

The company’s 50-day moving average is $39.36 and its 200 day moving average is $45.36. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. The firm has a market cap of $808.80 million, a PE ratio of 13.62, a P/E/G ratio of 1.14 and a beta of 1.41.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same period in the previous year, the business posted $0.85 earnings per share. As a group, sell-side analysts predict that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Buying and Selling at ScanSource

In related news, CFO Stephen Jones sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the completion of the sale, the chief financial officer now owns 69,816 shares of the company’s stock, valued at approximately $2,523,150.24. The trade was a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael L. Baur sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $38.91, for a total transaction of $583,650.00. Following the transaction, the chief executive officer now directly owns 162,760 shares in the company, valued at approximately $6,332,991.60. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,994 shares of company stock worth $731,702 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ScanSource

Large investors have recently bought and sold shares of the business. Castlekeep Investment Advisors LLC acquired a new stake in shares of ScanSource in the fourth quarter worth about $78,694,000. Wasatch Advisors LP lifted its holdings in ScanSource by 13.2% in the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after purchasing an additional 127,883 shares during the last quarter. Raymond James Financial Inc. bought a new stake in ScanSource during the fourth quarter worth approximately $5,687,000. JPMorgan Chase & Co. grew its holdings in ScanSource by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after purchasing an additional 91,069 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of ScanSource by 13.1% in the fourth quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company’s stock valued at $36,030,000 after purchasing an additional 87,721 shares during the period. 97.91% of the stock is currently owned by institutional investors.

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.