ScanSource (NASDAQ:SCSC) Trading Down 2.9% After Insider Selling

ScanSource, Inc. (NASDAQ:SCSC)’s stock price traded down 2.9% during trading on Friday following insider selling activity. The company traded as low as $47.97 and last traded at $48.13. 189,020 shares were traded during mid-day trading, a decline of 9% from the average session volume of 208,696 shares. The stock had previously closed at $49.55.

Specifically, CAO Brandy Ford sold 1,845 shares of ScanSource 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 sale, the chief accounting officer now owns 9,506 shares of the company’s stock, valued at approximately $469,406.28. This trade represents a 16.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ScanSource Price Performance

The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.50 and a beta of 1.44. The stock’s 50-day simple moving average is $49.32 and its two-hundred day simple moving average is $47.72.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, topping 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 analysts’ expectations of $774.90 million. During the same quarter in the previous year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down 11.5% on a year-over-year basis. Equities research analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Hedge Funds Weigh In On ScanSource

Hedge funds and other institutional investors have recently made changes to their positions in the company. 272 Capital LP acquired a new position in ScanSource in the 3rd quarter valued at $432,000. Franklin Resources Inc. grew its holdings in shares of ScanSource by 9.9% during the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company’s stock worth $1,093,000 after buying an additional 2,026 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of ScanSource in the third quarter valued at about $499,000. Barclays PLC raised its position in shares of ScanSource by 97.9% in the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock valued at $2,610,000 after buying an additional 26,881 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in ScanSource by 42.4% during the third quarter. Public Employees Retirement System of Ohio now owns 16,047 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 4,780 shares during the last quarter. Hedge funds and other 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.