ScanSource (NASDAQ:SCSC) Stock Price Down 2.9% on Insider Selling

ScanSource, Inc. (NASDAQ:SCSC)’s stock price dropped 2.9% on Friday after an insider sold shares in the company. The stock traded as low as $47.97 and last traded at $48.13. Approximately 189,020 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 208,696 shares. The stock had previously closed at $49.55.

Specifically, CAO Brandy Ford sold 1,845 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the transaction, the chief accounting officer now directly owns 9,506 shares in the company, valued at $469,406.28. This represents a 16.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ScanSource Stock Performance

The company has a market cap of $1.13 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. The business has a fifty day simple moving average of $49.32 and a two-hundred day simple moving average of $47.72.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The firm had revenue of $775.58 million during the quarter, compared to analyst estimates of $774.90 million. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. Research analysts anticipate that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Institutional Investors Weigh In On ScanSource

A number of large investors have recently made changes to their positions in SCSC. Exchange Traded Concepts LLC raised its position in ScanSource by 1.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock worth $979,000 after buying an additional 220 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of ScanSource by 0.3% during the second quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company’s stock worth $3,798,000 after purchasing an additional 264 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position 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 valued at $418,000 after purchasing an additional 308 shares during the period. Martingale Asset Management L P boosted its holdings in ScanSource by 0.6% in 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 during the last quarter. Finally, Quest Partners LLC grew its position in ScanSource by 42.6% during the 3rd quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 395 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.