ScanSource (NASDAQ:SCSC) Hits New 1-Year Low – Here’s What Happened

Shares of ScanSource, Inc. (NASDAQ:SCSC) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $34.85 and last traded at $35.06, with a volume of 257284 shares traded. The stock had previously closed at $36.65.

ScanSource Stock Down 3.6 %

The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $40.73 and its 200-day moving average is $45.74. The company has a market cap of $828.98 million, a PE ratio of 13.96, a PEG ratio of 1.14 and a beta of 1.41.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) 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 previous year, the firm posted $0.85 earnings per share. On average, analysts predict that ScanSource, Inc. will post 3.33 EPS for the current year.

Insiders Place Their Bets

In other ScanSource news, CEO Michael L. Baur sold 1,994 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $38.00, for a total value of $75,772.00. Following the transaction, the chief executive officer now directly owns 142,760 shares in the company, valued at approximately $5,424,880. This trade represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Castlekeep Investment Advisors LLC bought a new position in ScanSource in the fourth quarter worth approximately $78,694,000. Wasatch Advisors LP raised its position in shares of ScanSource by 13.2% during the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock valued at $52,737,000 after purchasing an additional 127,883 shares during the period. American Century Companies Inc. lifted its stake in shares of ScanSource by 13.1% during the 4th quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company’s stock valued at $36,030,000 after buying an additional 87,721 shares in the last quarter. Invesco Ltd. lifted its stake in shares of ScanSource by 2.4% during the 4th quarter. Invesco Ltd. now owns 618,099 shares of the industrial products company’s stock valued at $29,329,000 after buying an additional 14,669 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of ScanSource by 15.6% during the 4th quarter. JPMorgan Chase & Co. now owns 436,007 shares of the industrial products company’s stock valued at $20,689,000 after buying an additional 58,927 shares in the last quarter. 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.