Inspire Investing LLC Invests $413,000 in ScanSource, Inc. (NASDAQ:SCSC)

Inspire Investing LLC bought a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 8,592 shares of the industrial products company’s stock, valued at approximately $413,000.

Several other hedge funds also recently modified their holdings of SCSC. CWM LLC lifted its stake in ScanSource by 164.1% during the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 402 shares in the last quarter. nVerses Capital LLC bought a new position in shares of ScanSource during the second quarter valued at about $40,000. Quest Partners LLC purchased a new position in ScanSource during the second quarter worth about $41,000. Innealta Capital LLC bought a new stake in ScanSource in the 2nd quarter worth about $58,000. Finally, SG Americas Securities LLC purchased a new stake in ScanSource in the 1st quarter valued at about $128,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Price Performance

Shares of NASDAQ:SCSC opened at $49.25 on Thursday. The company has a market capitalization of $1.22 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.47 and a beta of 1.41. The company’s 50-day moving average is $47.95 and its 200 day moving average is $46.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.33 and a current ratio of 2.10. ScanSource, Inc. has a fifty-two week low of $27.86 and a fifty-two week high of $53.28.

ScanSource (NASDAQ:SCSC) last released its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). ScanSource had a net margin of 2.36% and a return on equity of 8.32%. The company had revenue of $746.11 million during the quarter, compared to analysts’ expectations of $838.60 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s revenue was down 21.2% compared to the same quarter last year. On average, equities research analysts forecast that ScanSource, Inc. will post 3.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Raymond James lowered ScanSource from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th.

ScanSource Profile

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.