ScanSource (NASDAQ:SCSC) Stock Price Down 2.9% – Here’s Why

ScanSource, Inc. (NASDAQ:SCSC)’s share price fell 2.9% during trading on Friday . The stock traded as low as $47.97 and last traded at $48.13. 189,020 shares changed hands during trading, a decline of 9% from the average session volume of 208,696 shares. The stock had previously closed at $49.55.

ScanSource Price Performance

The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $49.29 and its two-hundred day moving average price is $47.71. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 1.50 and a beta of 1.44.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The company had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue was down 11.5% compared to the same quarter last year. Analysts anticipate that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Insider Activity at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 15,081 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $49.57, for a total value of $747,565.17. Following the completion of the sale, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at $8,811,563.20. The trade was a 7.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 53,010 shares of company stock valued at $2,611,843. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ScanSource

A number of large investors have recently bought and sold shares of SCSC. Gladius Capital Management LP bought a new stake in ScanSource during the third quarter worth approximately $30,000. CWM LLC boosted its holdings in shares of ScanSource by 164.1% during the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock worth $29,000 after buying an additional 402 shares during the period. Point72 DIFC Ltd acquired a new position in ScanSource in the 3rd quarter valued at $35,000. nVerses Capital LLC bought a new position in ScanSource in the 2nd quarter worth $40,000. Finally, Quest Partners LLC acquired a new position in ScanSource during the 2nd quarter worth $41,000. 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.