ScanSource (NASDAQ:SCSC) Share Price Passes Above 200 Day Moving Average of $42.52

ScanSource, Inc. (NASDAQ:SCSC)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.52 and traded as high as $44.18. ScanSource shares last traded at $43.42, with a volume of 203,105 shares.

ScanSource Stock Up 0.7 %

The business has a 50-day simple moving average of $45.84 and a two-hundred day simple moving average of $42.56. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.34 and a beta of 1.45. The company has a quick ratio of 1.38, a current ratio of 2.20 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). ScanSource had a return on equity of 8.28% and a net margin of 2.31%. The company had revenue of $752.60 million during the quarter, compared to analyst estimates of $822.10 million. During the same period in the prior year, the firm earned $0.96 EPS. ScanSource’s quarterly revenue was down 15.0% on a year-over-year basis. As a group, equities analysts forecast that ScanSource, Inc. will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Shana C. Smith sold 2,245 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $48.00, for a total transaction of $107,760.00. Following the completion of the transaction, the executive vice president now owns 16,463 shares of the company’s stock, valued at approximately $790,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Charles Alexander Mathis sold 1,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $47.15, for a total value of $47,150.00. Following the transaction, the director now owns 11,959 shares of the company’s stock, valued at approximately $563,866.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Shana C. Smith sold 2,245 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $48.00, for a total value of $107,760.00. Following the completion of the transaction, the executive vice president now directly owns 16,463 shares in the company, valued at approximately $790,224. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,376 shares of company stock valued at $2,879,830. Insiders own 4.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SCSC. Gladius Capital Management LP acquired a new position in shares of ScanSource in the 3rd quarter valued at $36,000. GAMMA Investing LLC bought a new position in ScanSource during the fourth quarter worth about $46,000. SG Americas Securities LLC bought a new position in ScanSource during the first quarter worth about $128,000. ProShare Advisors LLC bought a new position in ScanSource during the first quarter worth about $220,000. Finally, Sollinda Capital Management LLC bought a new position in ScanSource during the fourth quarter worth about $277,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

About ScanSource

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.