Picton Mahoney Asset Management Acquires 758 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Picton Mahoney Asset Management lifted its position in ScanSource, Inc. (NASDAQ:SCSC) by 50.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,246 shares of the industrial products company’s stock after buying an additional 758 shares during the period. Picton Mahoney Asset Management’s holdings in ScanSource were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SCSC. Pacer Advisors Inc. boosted its stake in shares of ScanSource by 18.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock worth $131,828,000 after buying an additional 425,233 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of ScanSource by 13.2% in the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after buying an additional 127,883 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of ScanSource in the 4th quarter worth $5,687,000. JPMorgan Chase & Co. boosted its stake in shares of ScanSource by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after buying an additional 91,069 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of ScanSource by 142.2% in the 4th quarter. Victory Capital Management Inc. now owns 119,599 shares of the industrial products company’s stock worth $5,675,000 after buying an additional 70,228 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Stock Performance

SCSC stock opened at $36.09 on Monday. The company has a market cap of $846.82 million, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The stock’s fifty day moving average price is $41.86 and its 200-day moving average price is $46.20. ScanSource, Inc. has a 1 year low of $35.05 and a 1 year high of $53.90.

ScanSource (NASDAQ:SCSC) last released 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 net margin of 2.08% and a return on equity of 8.55%. During the same period in the previous year, the company earned $0.85 EPS. On average, equities analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Activity at ScanSource

In related news, CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $49.38, for a total transaction of $91,106.10. Following the transaction, the chief accounting officer now directly owns 9,506 shares in the company, valued at approximately $469,406.28. The trade was a 16.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 1,994 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.00, for a total value of $75,772.00. Following the sale, the chief executive officer now directly owns 142,760 shares in the company, valued at approximately $5,424,880. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,839 shares of company stock worth $750,528. Corporate insiders own 4.20% of the company’s stock.

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.