Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CEO Sells 15,081 Shares of Stock

by · The Cerbat Gem

ScanSource, Inc. (NASDAQ:SCSC – Get Free Report) CEO Michael L. Baur sold 15,081 shares of the company’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 $8,811,563.20. This trade represents a 7.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ScanSource Stock Performance

NASDAQ:SCSC traded up $0.49 during mid-day trading on Monday, hitting $49.38. 157,046 shares of the stock were exchanged, compared to its average volume of 210,741. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. ScanSource, Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $53.76. The firm’s 50-day simple moving average is $47.41 and its 200 day simple moving average is $47.17.

ScanSource (NASDAQ:SCSC – Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The business had revenue of $775.58 million during the quarter, compared to analyst estimates of $774.90 million. During the same quarter last year, the business earned $0.74 EPS. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. As a group, equities analysts anticipate that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Analysis on ScanSource

Institutional Trading of ScanSource

A number of large investors have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC purchased a new position in shares of ScanSource in the 1st quarter worth about $1,651,000. Cornercap Investment Counsel Inc. bought a new position in ScanSource during the 2nd quarter valued at approximately $524,000. Pacer Advisors Inc. increased its stake in ScanSource by 54.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock valued at $102,776,000 after purchasing an additional 815,240 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in ScanSource in the 3rd quarter worth approximately $1,674,000. Finally, Vanguard Group Inc. lifted its stake in ScanSource by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after acquiring an additional 40,264 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Company Profile

(Get Free Report)

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.

Further Reading