272 Capital LP Makes New Investment in ScanSource, Inc. (NASDAQ:SCSC)

272 Capital LP acquired a new stake in ScanSource, Inc. (NASDAQ:SCSC) during the third quarter, Holdings Channel.com reports. The firm acquired 9,000 shares of the industrial products company’s stock, valued at approximately $432,000.

Other institutional investors have also modified their holdings of the company. CWM LLC increased its holdings in ScanSource by 164.1% in the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after buying an additional 402 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of ScanSource during the 3rd quarter worth about $30,000. Point72 DIFC Ltd purchased a new position in shares of ScanSource in the 3rd quarter valued at about $35,000. nVerses Capital LLC acquired a new stake in shares of ScanSource during the 2nd quarter worth about $40,000. Finally, Quest Partners LLC acquired a new stake in shares of ScanSource during the 2nd quarter worth about $41,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ScanSource

In related news, CEO Michael L. Baur sold 8,312 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total transaction of $407,121.76. Following the transaction, the chief executive officer now owns 177,760 shares of the company’s stock, valued at $8,706,684.80. This trade represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 53,010 shares of company stock worth $2,611,843. Insiders own 4.20% of the company’s stock.

ScanSource Stock Performance

NASDAQ SCSC opened at $52.56 on Friday. The company has a fifty day moving average of $49.00 and a two-hundred day moving average of $47.63. The company has a market capitalization of $1.25 billion, a PE ratio of 16.85, a P/E/G ratio of 1.51 and a beta of 1.44. ScanSource, Inc. has a 1 year low of $31.01 and a 1 year high of $53.82. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27.

ScanSource (NASDAQ:SCSC) last announced its earnings results 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 firm had revenue of $775.58 million during 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%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. As a group, analysts expect that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Wall Street Analyst Weigh In

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

ScanSource Profile

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.