ScanSource (NASDAQ:SCSC) Sets New 1-Year Low Following Insider Selling

ScanSource, Inc. (NASDAQ:SCSC)’s stock price reached a new 52-week low during trading on Monday following insider selling activity. 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 the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $38.00, for a total value of $75,772.00. Following the completion of the sale, the chief executive officer now owns 142,760 shares of the company’s stock, valued at approximately $5,424,880. This represents a 1.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael L. Baur sold 15,000 shares of the business’s 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 transaction, the chief executive officer now owns 162,760 shares in the company, valued at approximately $6,332,991.60. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

ScanSource Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The stock has a 50-day moving average price of $47.96 and a 200-day moving average price of $48.13. The company has a market capitalization of $890.54 million, a price-to-earnings ratio of 15.00, a PEG ratio of 1.16 and a beta of 1.43.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in shares of ScanSource by 177.3% in the third quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock valued at $1,029,000 after buying an additional 13,703 shares during the period. JPMorgan Chase & Co. raised its holdings in ScanSource by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after acquiring an additional 91,069 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of ScanSource during the 3rd quarter valued at $1,674,000. Franklin Resources Inc. lifted its position in shares of ScanSource by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company’s stock valued at $1,093,000 after acquiring an additional 2,026 shares during the period. Finally, Barclays PLC grew its holdings in shares of ScanSource by 97.9% during the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock worth $2,610,000 after purchasing an additional 26,881 shares in the last quarter. Institutional investors 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.