Short Interest in ScanSource, Inc. (NASDAQ:SCSC) Expands By 21.8%

ScanSource, Inc. (NASDAQ:SCSC) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 584,423 shares, an increase of 21.8% from the December 31st total of 479,943 shares. Based on an average trading volume of 170,045 shares, the days-to-cover ratio is currently 3.4 days. Currently, 2.8% of the shares of the stock are sold short. Currently, 2.8% of the shares of the stock are sold short. Based on an average trading volume of 170,045 shares, the days-to-cover ratio is currently 3.4 days.

ScanSource Stock Up 0.6%

ScanSource stock traded up $0.25 during midday trading on Wednesday, hitting $44.18. 141,404 shares of the company’s stock were exchanged, compared to its average volume of 177,426. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 2.16. The company has a market cap of $969.38 million, a PE ratio of 13.76, a P/E/G ratio of 0.71 and a beta of 1.28. The firm has a 50-day moving average of $40.99 and a two-hundred day moving average of $41.80. ScanSource has a 12 month low of $28.75 and a 12 month high of $46.25.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.15. The firm had revenue of $739.65 million during the quarter, compared to analysts’ expectations of $787.37 million. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 EPS. As a group, analysts expect that ScanSource will post 3.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SCSC has been the topic of several analyst reports. Barclays initiated coverage on shares of ScanSource in a report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price target on the stock. Zacks Research cut ScanSource from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.50.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 9,559 shares of ScanSource stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $40.82, for a total value of $390,198.38. Following the sale, the chief executive officer owned 191,971 shares of the company’s stock, valued at $7,836,256.22. The trade was a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Stephen Jones sold 5,020 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $42.30, for a total transaction of $212,346.00. Following the completion of the transaction, the chief financial officer directly owned 83,326 shares of the company’s stock, valued at approximately $3,524,689.80. This trade represents a 5.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,020 shares of company stock valued at $1,035,669 over the last ninety days. 3.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ScanSource

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC lifted its position in shares of ScanSource by 5.6% during the fourth quarter. Denali Advisors LLC now owns 110,337 shares of the industrial products company’s stock valued at $4,310,000 after buying an additional 5,896 shares during the last quarter. Strs Ohio raised its stake in shares of ScanSource by 4.5% during the 4th quarter. Strs Ohio now owns 16,300 shares of the industrial products company’s stock worth $637,000 after acquiring an additional 700 shares in the last quarter. Horizon Investments LLC lifted its position in ScanSource by 16.2% during the fourth quarter. Horizon Investments LLC now owns 15,039 shares of the industrial products company’s stock valued at $587,000 after acquiring an additional 2,098 shares during the last quarter. UBS Group AG boosted its stake in ScanSource by 16.1% in the fourth quarter. UBS Group AG now owns 88,590 shares of the industrial products company’s stock valued at $3,460,000 after acquiring an additional 12,258 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in ScanSource by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after acquiring an additional 78,993 shares in the last quarter. Hedge funds and other institutional investors own 97.91% 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.