Sanctuary Advisors LLC Acquires Shares of 9,765 ScanSource, Inc. (NASDAQ:SCSC)

Sanctuary Advisors LLC acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,765 shares of the industrial products company’s stock, valued at approximately $499,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Gladius Capital Management LP bought a new position in ScanSource during the third quarter worth about $30,000. Point72 DIFC Ltd bought a new position in shares of ScanSource during the third quarter worth approximately $35,000. nVerses Capital LLC acquired a new stake in shares of ScanSource in the second quarter valued at approximately $40,000. Quest Partners LLC bought a new stake in shares of ScanSource in the second quarter valued at approximately $41,000. Finally, KBC Group NV grew its position in ScanSource by 59.9% during the third quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock worth $57,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Price Performance

ScanSource stock opened at $48.57 on Thursday. The stock’s fifty day moving average price is $49.30 and its two-hundred day moving average price is $47.76. The firm has a market cap of $1.16 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. ScanSource, Inc. has a one year low of $31.01 and a one year high of $53.90.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The firm had revenue of $775.58 million during the quarter, compared to analysts’ expectations of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, research analysts expect that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Insider Buying and Selling

In other ScanSource news, CEO Michael L. Baur sold 15,081 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $49.57, for a total value of $747,565.17. Following the completion of the sale, the chief executive officer now owns 177,760 shares of the company’s stock, valued at approximately $8,811,563.20. This trade represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brandy Ford sold 1,845 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the sale, the chief accounting officer now owns 9,506 shares of the company’s stock, valued at $469,406.28. This trade represents a 16.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,855 shares of company stock worth $2,702,949 in the last 90 days. Insiders own 4.20% of the company’s stock.

About ScanSource

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.