Short Interest in ScanSource, Inc. (NASDAQ:SCSC) Declines By 15.9%

ScanSource, Inc. (NASDAQ:SCSC) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,740,000 shares, a decrease of 15.9% from the December 15th total of 2,070,000 shares. Currently, 8.0% of the shares of the company are sold short. Based on an average trading volume of 202,100 shares, the days-to-cover ratio is presently 8.6 days.

ScanSource Trading Up 0.8 %

Shares of SCSC opened at $50.04 on Friday. The stock’s 50-day moving average price is $49.88 and its 200 day moving average price is $48.13. 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 firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.35 and a beta of 1.45. ScanSource has a 12-month low of $31.01 and a 12-month high of $53.90.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. The business had revenue of $775.58 million for the quarter, compared to analysts’ expectations of $774.90 million. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. ScanSource’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. As a group, research analysts predict that ScanSource will post 3.51 earnings per share for the current year.

Insider Activity

In other ScanSource news, CAO Brandy Ford sold 1,845 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the sale, the chief accounting officer now directly owns 9,506 shares in the company, valued at $469,406.28. This trade represents a 16.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael L. Baur sold 29,617 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $49.20, for a total transaction of $1,457,156.40. Following the transaction, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at $8,745,792. This represents a 14.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,855 shares of company stock valued at $2,702,949. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On ScanSource

A number of hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC boosted its position in shares of ScanSource by 1.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock valued at $979,000 after acquiring an additional 220 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in ScanSource by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 308 shares during the period. Martingale Asset Management L P boosted its holdings in ScanSource by 0.6% during the third quarter. Martingale Asset Management L P now owns 58,169 shares of the industrial products company’s stock valued at $2,794,000 after purchasing an additional 340 shares in the last quarter. Quest Partners LLC grew its stake in shares of ScanSource by 42.6% in the 3rd quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 395 shares during the period. Finally, KBC Group NV raised its holdings in shares of ScanSource by 59.9% in the 3rd quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock worth $57,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.