Point72 Asia Singapore Pte. Ltd. Sells 1,269 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 18.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,596 shares of the industrial products company’s stock after selling 1,269 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in ScanSource were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCSC. Quarry LP lifted its stake in shares of ScanSource by 948.7% during the 4th quarter. Quarry LP now owns 797 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 721 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in ScanSource during the fourth quarter worth about $64,000. Point72 Asset Management L.P. acquired a new stake in ScanSource during the fourth quarter worth about $81,000. Picton Mahoney Asset Management grew its holdings in ScanSource by 50.9% during the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 758 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in ScanSource in the fourth quarter valued at approximately $126,000. Institutional investors own 97.91% of the company’s stock.

ScanSource Stock Up 0.2%

ScanSource stock opened at $40.78 on Friday. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The stock has a 50 day moving average of $34.35 and a two-hundred day moving average of $42.01. 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 stock has a market capitalization of $956.86 million, a price-to-earnings ratio of 16.12, a PEG ratio of 1.14 and a beta of 1.30.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. The firm had revenue of $704.23 million during the quarter, compared to the consensus estimate of $809.17 million. During the same period last year, the business posted $0.69 EPS. ScanSource’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Activity

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the transaction, the chief financial officer now owns 69,816 shares in the company, valued at $2,523,150.24. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SCSC. StockNews.com raised ScanSource from a “hold” rating to a “buy” rating in a research note on Monday. Northcoast Research upgraded ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Tuesday, May 6th.

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.