ScanSource (NASDAQ:SCSC) Sets New 52-Week Low – What’s Next?

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

ScanSource Trading Down 2.7 %

The company has a 50 day moving average of $39.68 and a 200 day moving average of $45.43. The firm has a market cap of $808.80 million, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. 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 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 return on equity of 8.55% and a net margin of 2.08%. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, research analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief executive officer now owns 162,760 shares in the company, valued at $6,332,991.60. The trade was a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the chief financial officer now directly owns 69,816 shares of the company’s stock, valued at $2,523,150.24. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,994 shares of company stock worth $731,702 in the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of ScanSource

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC lifted its holdings in ScanSource by 3.5% during the fourth quarter. Sanctuary Advisors LLC now owns 10,103 shares of the industrial products company’s stock worth $479,000 after acquiring an additional 338 shares in the last quarter. Martingale Asset Management L P lifted its stake in ScanSource by 0.6% in the third quarter. Martingale Asset Management L P now owns 58,169 shares of the industrial products company’s stock valued at $2,794,000 after acquiring an additional 340 shares during the last quarter. Quest Partners LLC grew its position in shares of ScanSource by 42.6% in the 3rd quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 395 shares during the period. Brandywine Global Investment Management LLC increased its stake in shares of ScanSource by 0.7% during the 4th quarter. Brandywine Global Investment Management LLC now owns 80,908 shares of the industrial products company’s stock worth $3,839,000 after purchasing an additional 538 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in ScanSource by 7.3% during the fourth quarter. Sterling Capital Management LLC now owns 9,782 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 665 shares during the period. 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.