ScanSource (NASDAQ:SCSC) Hits New 1-Year Low – Here’s What Happened

ScanSource, Inc. (NASDAQ:SCSC) hit a new 52-week low during trading on Monday . The company traded as low as $37.49 and last traded at $37.73, with a volume of 26715 shares. The stock had previously closed at $38.02.

ScanSource Trading Up 1.6 %

The company has a market cap of $905.79 million, a PE ratio of 15.26, a PEG ratio of 1.16 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. The company has a 50 day simple moving average of $48.53 and a two-hundred day simple moving average of $48.29.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the business posted $0.85 earnings per share. Sell-side analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Buying and Selling

In other ScanSource news, CAO Brandy Ford sold 1,845 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total transaction of $91,106.10. Following the transaction, the chief accounting officer now directly owns 9,506 shares of the company’s stock, valued at $469,406.28. This represents a 16.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Baur sold 15,081 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $49.57, for a total value of $747,565.17. Following the completion of the sale, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at $8,811,563.20. This represents a 7.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,855 shares of company stock worth $2,702,949. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of ScanSource

Institutional investors and hedge funds have recently modified their holdings of the company. Picton Mahoney Asset Management lifted its holdings in shares of 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 buying an additional 758 shares during the last quarter. Vestcor Inc boosted its holdings in ScanSource by 656.0% in the 4th quarter. Vestcor Inc now owns 13,994 shares of the industrial products company’s stock valued at $664,000 after purchasing an additional 12,143 shares during the period. AlphaQuest LLC grew its position in ScanSource by 252.4% in the 4th quarter. AlphaQuest LLC now owns 4,662 shares of the industrial products company’s stock worth $221,000 after purchasing an additional 3,339 shares during the last quarter. Amundi increased its holdings in shares of ScanSource by 6.4% during the 4th quarter. Amundi now owns 19,584 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 1,176 shares during the period. Finally, Inceptionr LLC acquired a new position in shares of ScanSource during the fourth quarter valued at about $326,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.