ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 2,491 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $22.02, for a total transaction of $54,851.82. Following the sale, the chief executive officer now owns 65,740 shares in the company, valued at approximately $1,447,594.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
SCSC stock opened at $21.61 on Friday. The company has a 50-day simple moving average of $20.54 and a 200 day simple moving average of $22.95. The company has a market capitalization of $548.05 million, a P/E ratio of -2.84 and a beta of 1.32. The company has a quick ratio of 1.04, a current ratio of 1.67 and a debt-to-equity ratio of 0.31. ScanSource, Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $39.01.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Monday, August 31st. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). ScanSource had a negative net margin of 5.50% and a positive return on equity of 6.11%. The company had revenue of $636.50 million during the quarter, compared to the consensus estimate of $635.80 million. During the same quarter last year, the business earned $0.71 earnings per share. The company’s revenue was down 33.8% on a year-over-year basis. Equities analysts anticipate that ScanSource, Inc. will post 1.91 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of SCSC. Victory Capital Management Inc. raised its stake in shares of ScanSource by 0.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,520,250 shares of the industrial products company’s stock worth $36,623,000 after buying an additional 10,544 shares in the last quarter. State Street Corp grew its holdings in ScanSource by 10.0% during the first quarter. State Street Corp now owns 946,741 shares of the industrial products company’s stock worth $20,251,000 after acquiring an additional 85,897 shares during the period. LSV Asset Management grew its holdings in ScanSource by 2.5% during the second quarter. LSV Asset Management now owns 895,918 shares of the industrial products company’s stock worth $21,582,000 after acquiring an additional 21,500 shares during the period. Geode Capital Management LLC raised its position in ScanSource by 5.2% in the first quarter. Geode Capital Management LLC now owns 437,436 shares of the industrial products company’s stock worth $9,355,000 after acquiring an additional 21,708 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in ScanSource by 7.7% in the 2nd quarter. Prudential Financial Inc. now owns 290,172 shares of the industrial products company’s stock valued at $6,990,000 after acquiring an additional 20,721 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on SCSC shares. ValuEngine downgraded ScanSource from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Raymond James reissued a “buy” rating and set a $24.00 price target on shares of ScanSource in a report on Tuesday, September 1st. TheStreet downgraded shares of ScanSource from a “c” rating to a “d+” rating in a research report on Monday, August 31st. Zacks Investment Research cut shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, BidaskClub upgraded ScanSource from a “hold” rating to a “buy” rating in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).
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