ScanSource (NASDAQ:SCSC) Hits New 52-Week High at $51.10

ScanSource, Inc. (NASDAQ:SCSC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $51.10 and last traded at $50.91, with a volume of 3656 shares trading hands. The stock had previously closed at $50.19.

ScanSource Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.38 and a current ratio of 2.20. The firm has a fifty day simple moving average of $46.13 and a 200 day simple moving average of $43.58. The company has a market capitalization of $1.29 billion, a PE ratio of 16.52, a P/E/G ratio of 1.50 and a beta of 1.44.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). The business had revenue of $752.60 million for the quarter, compared to the consensus estimate of $822.10 million. ScanSource had a net margin of 2.31% and a return on equity of 8.28%. ScanSource’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 earnings per share. Equities analysts anticipate that ScanSource, Inc. will post 3.31 EPS for the current year.

Insiders Place Their Bets

In other ScanSource news, CEO Michael L. Baur sold 34,203 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $42.49, for a total value of $1,453,285.47. Following the completion of the sale, the chief executive officer now owns 118,080 shares of the company’s stock, valued at $5,017,219.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ScanSource news, EVP Shana C. Smith sold 2,245 shares of ScanSource stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $48.00, for a total transaction of $107,760.00. Following the completion of the sale, the executive vice president now directly owns 16,463 shares in the company, valued at approximately $790,224. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael L. Baur sold 34,203 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $42.49, for a total transaction of $1,453,285.47. Following the completion of the sale, the chief executive officer now owns 118,080 shares in the company, valued at approximately $5,017,219.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,274 shares of company stock worth $5,479,947. 4.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in shares of ScanSource during the 2nd quarter valued at about $40,000. Innealta Capital LLC purchased a new position in ScanSource in the second quarter valued at $58,000. Bank of New York Mellon Corp raised its position in shares of ScanSource by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 208,727 shares of the industrial products company’s stock worth $9,249,000 after acquiring an additional 3,167 shares during the period. Raymond James & Associates boosted its stake in shares of ScanSource by 2.4% during the 2nd quarter. Raymond James & Associates now owns 95,086 shares of the industrial products company’s stock worth $4,213,000 after acquiring an additional 2,202 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of ScanSource by 115.8% during the 2nd quarter. SG Americas Securities LLC now owns 6,249 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 3,353 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

About ScanSource

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.