Exchange Traded Concepts LLC Buys 220 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Exchange Traded Concepts LLC raised its stake in ScanSource, Inc. (NASDAQ:SCSC) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,387 shares of the industrial products company’s stock after purchasing an additional 220 shares during the quarter. Exchange Traded Concepts LLC owned 0.08% of ScanSource worth $979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SCSC. Pacer Advisors Inc. grew its holdings in ScanSource by 54.2% during the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock worth $102,776,000 after buying an additional 815,240 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of ScanSource by 67.9% in the 1st quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock worth $46,501,000 after acquiring an additional 426,945 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of ScanSource by 75.5% in the second quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock valued at $23,091,000 after purchasing an additional 224,160 shares during the last quarter. Millennium Management LLC lifted its position in shares of ScanSource by 2,640.7% during the second quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock valued at $6,038,000 after purchasing an additional 131,294 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in ScanSource by 86.1% during the first quarter. Empowered Funds LLC now owns 114,327 shares of the industrial products company’s stock worth $5,035,000 after purchasing an additional 52,895 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

ScanSource Stock Up 1.5 %

Shares of NASDAQ:SCSC opened at $49.25 on Thursday. ScanSource, Inc. has a 1 year low of $27.86 and a 1 year high of $53.28. The company has a market capitalization of $1.22 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.47 and a beta of 1.41. The business has a fifty day moving average price of $47.95 and a two-hundred day moving average price of $46.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.10 and a quick ratio of 1.33.

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

Wall Street Analysts Forecast Growth

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

ScanSource Company 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.