ScanSource (NASDAQ:SCSC) Sets New 12-Month Low After Insider Selling

ScanSource, Inc. (NASDAQ:SCSC) shares hit a new 52-week low during trading on Monday after an insider sold shares in the company. The stock traded as low as $37.49 and last traded at $37.73, with a volume of 26715 shares traded. The stock had previously closed at $38.02.

Specifically, CEO Michael L. Baur sold 1,994 shares of ScanSource stock in a transaction on Monday, February 10th. The shares were sold at an average price of $38.00, for a total value of $75,772.00. Following the completion of the transaction, the chief executive officer now owns 142,760 shares of the company’s stock, valued at $5,424,880. The trade was a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael L. Baur sold 15,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $38.91, for a total transaction of $583,650.00. Following the sale, the chief executive officer now directly owns 162,760 shares in the company, valued at $6,332,991.60. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

ScanSource Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. The company’s fifty day moving average price is $47.96 and its 200 day moving average price is $48.13. The firm has a market capitalization of $890.54 million, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.43.

ScanSource (NASDAQ:SCSC) last issued its 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 firm posted $0.85 earnings per share. Equities research analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCSC. EntryPoint Capital LLC acquired a new stake in ScanSource in the fourth quarter worth $344,000. Prudential Financial Inc. grew its position in shares of ScanSource by 37.5% during the fourth quarter. Prudential Financial Inc. now owns 99,208 shares of the industrial products company’s stock worth $4,707,000 after acquiring an additional 27,060 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of ScanSource in the 4th quarter worth about $204,000. Sei Investments Co. lifted its position in ScanSource by 15.3% in the 4th quarter. Sei Investments Co. now owns 92,159 shares of the industrial products company’s stock valued at $4,373,000 after purchasing an additional 12,216 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in ScanSource by 13.1% during the 4th quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company’s stock valued at $36,030,000 after purchasing an additional 87,721 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.