ScanSource (NASDAQ:SCSC) Sets New 52-Week Low – What’s Next?

ScanSource, Inc. (NASDAQ:SCSC)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $35.80 and last traded at $36.09, with a volume of 3430 shares trading hands. The stock had previously closed at $36.23.

ScanSource Trading Up 0.2 %

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 has a market capitalization of $833.98 million, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43. The stock’s fifty day moving average price is $43.74 and its two-hundred day moving average price is $46.93.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Thursday, January 30th. The industrial products company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the company posted $0.85 EPS. Sell-side analysts anticipate 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 the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the sale, the chief accounting officer now owns 9,506 shares in the company, valued at $469,406.28. This represents a 16.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael L. Baur sold 1,994 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.00, for a total value of $75,772.00. Following the completion of the sale, the chief executive officer now directly owns 142,760 shares in the company, valued at $5,424,880. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,839 shares of company stock worth $750,528 over the last 90 days. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SCSC. Gladius Capital Management LP bought a new stake in shares of ScanSource during the third quarter valued at approximately $30,000. Point72 DIFC Ltd purchased a new position in ScanSource during the third quarter valued at $35,000. Quarry LP increased its holdings in ScanSource by 948.7% in the 4th quarter. Quarry LP now owns 797 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 721 shares during the last quarter. KBC Group NV lifted its stake in 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 purchasing an additional 443 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of ScanSource by 42.6% during 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 last quarter. Hedge funds and other institutional investors 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.