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

Shares of ScanSource, Inc. (NASDAQ:SCSC) reached a new 52-week low during trading on Friday . The company traded as low as $34.32 and last traded at $34.43, with a volume of 60548 shares traded. The stock had previously closed at $35.44.

ScanSource Stock Performance

The stock has a market capitalization of $808.80 million, a price-to-earnings ratio of 13.62, a P/E/G ratio of 1.14 and a beta of 1.41. The company’s fifty day simple moving average is $39.68 and its 200 day simple moving average is $45.43. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results 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 firm earned $0.85 earnings per share. On average, equities research analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Buying and Selling at ScanSource

In related news, CFO Stephen Jones sold 2,000 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the completion of the transaction, the chief financial officer now owns 69,816 shares of the company’s stock, valued at $2,523,150.24. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $75,772.00. Following the sale, the chief executive officer now owns 142,760 shares in the company, valued at $5,424,880. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,994 shares of company stock valued at $731,702 in the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of ScanSource

Several institutional investors and hedge funds have recently modified their holdings of SCSC. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 91,069 shares during the last quarter. Franklin Resources Inc. increased 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. Barclays PLC lifted its stake in shares of ScanSource by 97.9% in the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock valued at $2,610,000 after acquiring an additional 26,881 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of ScanSource during the 4th quarter valued at $807,000. Finally, The Manufacturers Life Insurance Company grew its position in ScanSource by 26.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,899 shares of the industrial products company’s stock worth $572,000 after acquiring an additional 2,459 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

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.