Magnetar Financial LLC Purchases New Stake in ScanSource, Inc. (NASDAQ:SCSC)

Magnetar Financial LLC acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,858 shares of the industrial products company’s stock, valued at approximately $325,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in ScanSource during the third quarter worth $35,000. KBC Group NV raised its holdings in shares of ScanSource by 59.9% in the third quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 443 shares during the last quarter. Quest Partners LLC raised its holdings in shares of ScanSource by 42.6% in the third quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 395 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in shares of ScanSource by 50.9% in the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 758 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new position in shares of ScanSource in the third quarter worth $205,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 1,994 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $38.00, for a total transaction of $75,772.00. Following the completion of the sale, the chief executive officer now owns 142,760 shares of the company’s stock, valued at approximately $5,424,880. The trade was a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is owned by company insiders.

ScanSource Stock Performance

NASDAQ SCSC opened at $35.33 on Friday. ScanSource, Inc. has a fifty-two week low of $34.49 and a fifty-two week high of $53.90. The stock has a market cap of $828.98 million, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. The business has a fifty day moving average of $40.73 and a 200-day moving average of $45.74. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). ScanSource had a return on equity of 8.55% and a net margin of 2.08%. During the same period last year, the firm earned $0.85 earnings per share. As a group, analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

ScanSource Company 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.