Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CEO Sells $407,121.76 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 8,312 shares of ScanSource stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total value of $407,121.76. Following the sale, the chief executive officer now owns 177,760 shares of the company’s stock, valued at approximately $8,706,684.80. This represents a 4.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

ScanSource Trading Up 1.5 %

Shares of NASDAQ:SCSC traded up $0.75 during midday trading on Thursday, reaching $49.89. The company had a trading volume of 126,144 shares, compared to its average volume of 209,785. ScanSource, Inc. has a 1-year low of $31.01 and a 1-year high of $53.76. 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 firm has a market cap of $1.19 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.40 and a beta of 1.42. The company has a fifty day simple moving average of $47.60 and a two-hundred day simple moving average of $47.23.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (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%. ScanSource’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. Research analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its holdings in shares of ScanSource by 164.1% in the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 402 shares during the period. Gladius Capital Management LP bought a new stake in ScanSource during the third quarter worth about $30,000. Point72 DIFC Ltd bought a new position in ScanSource in the third quarter valued at approximately $35,000. nVerses Capital LLC acquired a new stake in shares of ScanSource in the 2nd quarter valued at $40,000. Finally, Quest Partners LLC bought a new stake in shares of ScanSource during the 2nd quarter worth $41,000. Institutional investors own 97.91% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James cut ScanSource from an “outperform” rating to a “market perform” rating in a research note 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.