ScanSource, Inc. (NASDAQ:SCSC) Sees Significant Drop in Short Interest

ScanSource, Inc. (NASDAQ:SCSC) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 1,740,000 shares, a drop of 15.9% from the December 15th total of 2,070,000 shares. Based on an average daily volume of 202,100 shares, the days-to-cover ratio is presently 8.6 days. Currently, 8.0% of the shares of the company are sold short.

ScanSource Price Performance

SCSC stock traded up $0.42 during trading on Friday, hitting $50.46. 123,056 shares of the stock traded hands, compared to its average volume of 248,868. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.35 and a beta of 1.45. ScanSource has a one year low of $31.01 and a one year high of $53.90. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The company has a 50 day simple moving average of $49.85 and a 200 day simple moving average of $48.21.

ScanSource (NASDAQ:SCSC) last posted its earnings results 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. The company 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 quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities analysts expect that ScanSource will post 3.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael L. Baur sold 8,312 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total transaction of $407,121.76. Following the completion of the transaction, the chief executive officer now owns 177,760 shares in the company, valued at $8,706,684.80. This trade represents a 4.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brandy Ford sold 1,845 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the completion of the sale, the chief accounting officer now owns 9,506 shares in the company, valued at $469,406.28. This trade represents a 16.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,855 shares of company stock valued at $2,702,949 over the last ninety days. 4.20% of the stock is owned by company insiders.

Institutional Trading of ScanSource

Several large investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC lifted its position in ScanSource by 1.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock worth $979,000 after buying an additional 220 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of ScanSource by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 308 shares in the last quarter. Martingale Asset Management L P grew its stake in shares of ScanSource by 0.6% during the third quarter. Martingale Asset Management L P now owns 58,169 shares of the industrial products company’s stock valued at $2,794,000 after purchasing an additional 340 shares during the last quarter. Quest Partners LLC increased its holdings in shares of ScanSource by 42.6% in the third quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 395 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of ScanSource by 59.9% in the third quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 443 shares in the last quarter. Institutional investors own 97.91% 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.