Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CEO Sells 15,081 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 15,081 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $49.57, for a total transaction of $747,565.17. Following the completion of the sale, the chief executive officer now owns 177,760 shares in the company, valued at $8,811,563.20. This represents a 7.82 % 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 link.

ScanSource Trading Down 0.5 %

Shares of ScanSource stock opened at $49.15 on Wednesday. The company’s fifty day moving average price is $47.50 and its two-hundred day moving average price is $47.21. The firm has a market capitalization of $1.17 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. ScanSource, Inc. has a 52-week low of $31.01 and a 52-week high of $53.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $774.90 million. During the same period in the previous year, the business earned $0.74 earnings per share. The company’s quarterly revenue was down 11.5% on a year-over-year basis. On average, analysts expect that ScanSource, Inc. will post 3.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of ScanSource by 97.9% during the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock worth $2,610,000 after purchasing an additional 26,881 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of ScanSource by 42.4% in the third quarter. Public Employees Retirement System of Ohio now owns 16,047 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 4,780 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of ScanSource by 6.2% in the 3rd quarter. Jane Street Group LLC now owns 56,980 shares of the industrial products company’s stock worth $2,737,000 after acquiring an additional 3,307 shares in the last quarter. Systematic Financial Management LP bought a new stake in ScanSource during the 3rd quarter worth approximately $205,000. Finally, Point72 DIFC Ltd acquired a new stake in ScanSource during the 3rd quarter valued at $35,000. 97.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Raymond James lowered ScanSource from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 15th.

About ScanSource

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.