ScanSource, Inc. (NASDAQ:SCSC) Short Interest Update

ScanSource, Inc. (NASDAQ:SCSC) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,030,000 shares, a growth of 20.1% from the July 15th total of 1,690,000 shares. Based on an average trading volume of 216,200 shares, the days-to-cover ratio is presently 9.4 days. Approximately 8.9% of the shares of the stock are sold short.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 34,203 shares of the stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael L. Baur sold 7,798 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $43.81, for a total value of $341,630.38. Following the completion of the sale, the chief executive officer now owns 118,080 shares of the company’s stock, valued at $5,173,084.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Baur sold 34,203 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were 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 directly owns 118,080 shares of the company’s stock, valued at approximately $5,017,219.20. The disclosure for this sale can be found here. Insiders sold 114,531 shares of company stock valued at $5,025,745 over the last quarter. 4.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ScanSource by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock worth $153,245,000 after buying an additional 40,264 shares during the period. Pacer Advisors Inc. boosted its holdings in ScanSource by 54.2% in the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock valued at $102,776,000 after purchasing an additional 815,240 shares during the period. Dimensional Fund Advisors LP boosted its holdings in ScanSource by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock valued at $87,894,000 after purchasing an additional 39,533 shares during the period. Pzena Investment Management LLC boosted its holdings in ScanSource by 4.9% in the fourth quarter. Pzena Investment Management LLC now owns 1,893,151 shares of the industrial products company’s stock valued at $74,988,000 after purchasing an additional 89,103 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in ScanSource by 67.9% in the first quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock valued at $46,501,000 after purchasing an additional 426,945 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Raymond James cut ScanSource from an “outperform” rating to a “market perform” rating in a research note on Thursday.

ScanSource Trading Up 0.7 %

Shares of SCSC traded up $0.33 during midday trading on Friday, hitting $48.61. 192,371 shares of the stock were exchanged, compared to its average volume of 156,137. ScanSource has a 52-week low of $26.99 and a 52-week high of $53.28. The stock has a fifty day simple moving average of $46.07 and a 200 day simple moving average of $44.35. The firm has a market cap of $1.20 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.42 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.38 and a current ratio of 2.20.

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.