ScanSource (NASDAQ:SCSC) Reaches New 12-Month Low on Insider Selling

ScanSource, Inc. (NASDAQ:SCSC)’s share price reached a new 52-week low on Monday after an insider sold shares in the company. The company traded as low as $37.49 and last traded at $37.73, with a volume of 26715 shares trading hands. The stock had previously closed at $38.02.

Specifically, CEO Michael L. Baur sold 1,994 shares of the stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael L. Baur sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $38.91, for a total value of $583,650.00. Following the transaction, the chief executive officer now directly owns 162,760 shares in the company, valued at $6,332,991.60. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

ScanSource Price Performance

The company has a market cap of $890.54 million, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.16 and a beta of 1.43. The company’s 50-day simple moving average is $47.96 and its 200-day simple moving average is $48.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share 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 quarter last year, the business earned $0.85 EPS. On average, equities research analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current year.

Institutional Trading of ScanSource

Several large investors have recently modified their holdings of SCSC. Pacer Advisors Inc. boosted its holdings in ScanSource by 18.3% in the third quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock valued at $131,828,000 after purchasing an additional 425,233 shares during the last quarter. Wasatch Advisors LP raised its position 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 valued at $52,737,000 after purchasing an additional 127,883 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of ScanSource during the 4th quarter valued at approximately $5,687,000. JPMorgan Chase & Co. boosted its stake in shares of ScanSource by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after buying an additional 91,069 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of ScanSource by 13.1% during the fourth quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company’s stock worth $36,030,000 after buying an additional 87,721 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.