First Hawaiian Bank Sells 5,294 Shares of ScanSource, Inc. (NASDAQ:SCSC)

First Hawaiian Bank cut its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 24.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,027 shares of the industrial products company’s stock after selling 5,294 shares during the quarter. First Hawaiian Bank owned about 0.06% of ScanSource worth $710,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. EMC Capital Management increased its holdings in ScanSource by 3.5% in the 1st quarter. EMC Capital Management now owns 7,398 shares of the industrial products company’s stock worth $326,000 after buying an additional 247 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in ScanSource by 5.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,572 shares of the industrial products company’s stock worth $686,000 after buying an additional 813 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in ScanSource by 10.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 21,862 shares of the industrial products company’s stock worth $962,000 after buying an additional 2,011 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in ScanSource in the 1st quarter worth about $1,651,000. Finally, Hillsdale Investment Management Inc. increased its holdings in ScanSource by 8.4% in the 1st quarter. Hillsdale Investment Management Inc. now owns 86,206 shares of the industrial products company’s stock worth $3,797,000 after buying an additional 6,700 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

ScanSource Stock Performance

Shares of ScanSource stock traded down $1.71 during trading hours on Monday, reaching $45.75. 156,742 shares of the stock traded hands, compared to its average volume of 211,294. The company has a 50 day moving average price of $46.11 and a 200 day moving average price of $43.84. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.45 and a beta of 1.44. ScanSource, Inc. has a one year low of $26.99 and a one year high of $53.28. 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 released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). The firm had revenue of $752.60 million for the quarter, compared to the consensus estimate of $822.10 million. ScanSource had a net margin of 2.31% and a return on equity of 8.28%. The company’s revenue for the quarter was down 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 earnings per share. On average, equities research analysts expect that ScanSource, Inc. will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling at ScanSource

In other news, CFO Stephen Jones sold 8,500 shares of ScanSource stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $47.77, for a total transaction of $406,045.00. Following the transaction, the chief financial officer now directly owns 53,352 shares of the company’s stock, valued at approximately $2,548,625.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Shana C. Smith sold 2,245 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $48.00, for a total value of $107,760.00. Following the transaction, the executive vice president now directly owns 16,463 shares of the company’s stock, valued at approximately $790,224. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen Jones sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $47.77, for a total value of $406,045.00. Following the completion of the transaction, the chief financial officer now directly owns 53,352 shares in the company, valued at $2,548,625.04. The disclosure for this sale can be found here. Insiders sold a total of 124,274 shares of company stock worth $5,479,947 in the last three months. 4.56% of the stock is currently owned by company insiders.

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.