GSA Capital Partners LLP Increases Position in ScanSource, Inc. $SCSC

GSA Capital Partners LLP lifted its position in ScanSource, Inc. (NASDAQ:SCSC) by 266.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,704 shares of the industrial products company’s stock after acquiring an additional 22,331 shares during the period. GSA Capital Partners LLP owned 0.14% of ScanSource worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi grew its stake in ScanSource by 35.1% during the 1st quarter. Amundi now owns 26,464 shares of the industrial products company’s stock valued at $836,000 after purchasing an additional 6,880 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of ScanSource by 3.8% during the first quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock worth $4,373,000 after purchasing an additional 4,693 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in ScanSource by 2.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock valued at $471,000 after buying an additional 295 shares during the last quarter. Millennium Management LLC increased its holdings in ScanSource by 8.4% in the 1st quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock worth $8,836,000 after buying an additional 20,086 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in ScanSource by 35.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 16,044 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Stock Performance

SCSC opened at $37.25 on Thursday. The firm has a fifty day moving average price of $40.05 and a 200 day moving average price of $41.54. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $46.25. The stock has a market cap of $800.13 million, a P/E ratio of 11.43, a P/E/G ratio of 0.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.96 and a quick ratio of 1.22.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). The firm had revenue of $766.51 million during the quarter, compared to analysts’ expectations of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. Equities research analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on SCSC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a report on Monday, December 29th. Zacks Research downgraded shares of ScanSource from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Finally, Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.50.

Insider Activity at ScanSource

In other ScanSource news, Director Charles Alexander Mathis purchased 6,000 shares of ScanSource stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average price of $35.20 per share, with a total value of $211,200.00. Following the acquisition, the director owned 24,793 shares of the company’s stock, valued at $872,713.60. This trade represents a 31.93% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael L. Baur sold 9,559 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $40.82, for a total value of $390,198.38. Following the completion of the sale, the chief executive officer directly owned 191,971 shares in the company, valued at approximately $7,836,256.22. The trade was a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,020 shares of company stock worth $1,035,669 in the last 90 days. Corporate insiders own 3.18% of the company’s stock.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.