ScanSource, Inc. (NASDAQ:SCSC) Shares Acquired by Wasatch Advisors LP

Wasatch Advisors LP lifted its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 67.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,055,882 shares of the industrial products company’s stock after acquiring an additional 426,945 shares during the period. Wasatch Advisors LP owned 4.20% of ScanSource worth $46,501,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new position in shares of ScanSource in the 3rd quarter worth about $36,000. GAMMA Investing LLC purchased a new stake in shares of ScanSource during the 4th quarter valued at about $46,000. Sollinda Capital Management LLC purchased a new stake in shares of ScanSource during the 4th quarter valued at about $277,000. Summit Global Investments acquired a new stake in ScanSource during the 4th quarter valued at approximately $301,000. Finally, Johnson Financial Group Inc. acquired a new stake in ScanSource during the 4th quarter valued at approximately $304,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Price Performance

Shares of NASDAQ SCSC opened at $43.45 on Wednesday. ScanSource, Inc. has a fifty-two week low of $26.99 and a fifty-two week high of $50.95. The business has a 50 day moving average price of $45.82 and a two-hundred day moving average price of $42.55. The company has a quick ratio of 1.38, a current ratio of 2.20 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.07 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.34 and a beta of 1.45.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). The business had revenue of $752.60 million for the quarter, compared to analyst estimates of $822.10 million. ScanSource had a net margin of 2.31% and a return on equity of 8.28%. ScanSource’s revenue for the quarter was down 15.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. Sell-side analysts expect that ScanSource, Inc. will post 3.31 earnings per share for the current fiscal year.

Insider Transactions at ScanSource

In related news, EVP Rachel Hayden sold 3,582 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $46.01, for a total value of $164,807.82. Following the sale, the executive vice president now owns 18,318 shares of the company’s stock, valued at approximately $842,811.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Peter C. Browning sold 7,490 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $46.44, for a total value of $347,835.60. Following the sale, the director now owns 22,759 shares of the company’s stock, valued at approximately $1,056,927.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rachel Hayden sold 3,582 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $46.01, for a total value of $164,807.82. Following the completion of the sale, the executive vice president now directly owns 18,318 shares in the company, valued at approximately $842,811.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,123 shares of company stock worth $1,565,186. 4.56% of the stock is currently owned by corporate insiders.

ScanSource Company Profile

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.