ScanSource (NASDAQ:SCSC) Hits New 1-Year Low – Here’s What Happened

ScanSource, Inc. (NASDAQ:SCSC) hit a new 52-week low on Monday . The company traded as low as $37.49 and last traded at $37.73, with a volume of 26715 shares changing hands. The stock had previously closed at $38.02.

ScanSource Stock Performance

The company has a 50-day moving average of $48.53 and a 200-day moving average of $48.29. The firm has a market capitalization of $905.79 million, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.43. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). ScanSource had a return on equity of 8.55% and a net margin of 2.08%. During the same quarter in the prior year, the company earned $0.85 earnings per share. On average, equities research analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael L. Baur sold 15,081 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $49.57, for a total value of $747,565.17. Following the completion of the transaction, the chief executive officer now directly owns 177,760 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, CAO Brandy Ford sold 1,845 shares of the business’s stock in a transaction that occurred 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 directly owns 9,506 shares in the company, valued at approximately $469,406.28. The trade was a 16.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,855 shares of company stock worth $2,702,949 in the last three months. 4.20% of the stock is owned by insiders.

Institutional Trading of ScanSource

A number of hedge funds and other institutional investors have recently modified their holdings of SCSC. The Manufacturers Life Insurance Company lifted its holdings in ScanSource by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 308 shares during the last quarter. SG Americas Securities LLC boosted its holdings in ScanSource by 9.7% during the third quarter. SG Americas Securities LLC now owns 6,857 shares of the industrial products company’s stock worth $329,000 after buying an additional 608 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of ScanSource in the third quarter valued at $441,000. Inspire Investing LLC bought a new position in shares of ScanSource in the third quarter valued at $413,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of ScanSource by 1.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock valued at $979,000 after acquiring an additional 220 shares during 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.