Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CEO Sells 29,617 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 29,617 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $49.20, for a total value of $1,457,156.40. Following the transaction, the chief executive officer now owns 177,760 shares in the company, valued at $8,745,792. This trade represents a 14.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ScanSource Stock Up 1.0 %

NASDAQ SCSC traded up $0.49 during mid-day trading on Monday, reaching $49.38. 157,046 shares of the company’s stock traded hands, compared to its average volume of 210,741. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.39 and a beta of 1.42. The company has a fifty day simple moving average of $47.41 and a 200-day simple moving average of $47.17. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a 1-year low of $31.01 and a 1-year high of $53.76.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, topping 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 company had revenue of $775.58 million during the quarter, compared to analyst estimates of $774.90 million. During the same quarter last year, the firm earned $0.74 EPS. The business’s revenue was down 11.5% on a year-over-year basis. As a group, equities research analysts expect that ScanSource, Inc. will post 3.51 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of ScanSource

Several hedge funds have recently added to or reduced their stakes in SCSC. CWM LLC raised its stake in shares of ScanSource by 164.1% in the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock worth $29,000 after buying an additional 402 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of ScanSource in the 3rd quarter worth $30,000. Point72 DIFC Ltd bought a new stake in shares of ScanSource in the 3rd quarter worth $35,000. nVerses Capital LLC bought a new stake in shares of ScanSource in the 2nd quarter worth $40,000. Finally, Quest Partners LLC bought a new stake in shares of ScanSource in the 2nd quarter worth $41,000. 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.