ScanSource (NASDAQ:SCSC) Sets New 12-Month Low – What’s Next?

ScanSource, Inc. (NASDAQ:SCSC)’s share price hit a new 52-week low on Thursday . The company traded as low as $33.22 and last traded at $34.25, with a volume of 151830 shares. The stock had previously closed at $33.79.

ScanSource Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The stock has a market capitalization of $710.26 million, a PE ratio of 11.96, a P/E/G ratio of 1.14 and a beta of 1.41. The company has a 50-day moving average of $37.53 and a two-hundred day moving average of $44.91.

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

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 that occurred on Monday, February 10th. The shares were 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 directly owns 142,760 shares in the company, valued at $5,424,880. The trade was a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen Jones sold 2,000 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $36.14, for a total transaction of $72,280.00. Following the completion of the transaction, the chief financial officer now directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,994 shares of company stock valued at $731,702. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Castlekeep Investment Advisors LLC acquired a new stake in shares of ScanSource in the fourth quarter valued at about $78,694,000. American Century Companies Inc. boosted its holdings in ScanSource by 13.1% in the 4th quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company’s stock worth $36,030,000 after acquiring an additional 87,721 shares during the period. Invesco Ltd. grew its position in ScanSource by 2.4% in the fourth quarter. Invesco Ltd. now owns 618,099 shares of the industrial products company’s stock valued at $29,329,000 after acquiring an additional 14,669 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of ScanSource by 15.6% during the fourth quarter. JPMorgan Chase & Co. now owns 436,007 shares of the industrial products company’s stock valued at $20,689,000 after purchasing an additional 58,927 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in shares of ScanSource by 1.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 366,156 shares of the industrial products company’s stock worth $17,374,000 after purchasing an additional 6,592 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.