Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CEO Sells $583,650.00 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $38.91, for a total transaction of $583,650.00. Following the completion of the transaction, the chief executive officer now directly owns 162,760 shares of the company’s stock, valued at approximately $6,332,991.60. The trade was a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ScanSource Trading Down 2.2 %

ScanSource stock opened at $37.12 on Thursday. The stock has a market cap of $870.84 million, a P/E ratio of 14.67, a PEG ratio of 1.16 and a beta of 1.43. ScanSource, Inc. has a fifty-two week low of $36.63 and a fifty-two week high of $53.90. The firm’s fifty day moving average price is $47.64 and its 200-day moving average price is $48.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11.

ScanSource (NASDAQ:SCSC) last announced its 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 in the prior year, the business earned $0.85 earnings per share. Equities research analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ScanSource

A number of institutional investors and hedge funds have recently bought and sold shares of SCSC. Massachusetts Financial Services Co. MA bought a new position in shares of ScanSource in the 4th quarter worth $966,000. Franklin Resources Inc. grew its position in ScanSource by 15.3% in the fourth quarter. Franklin Resources Inc. now owns 26,037 shares of the industrial products company’s stock worth $1,235,000 after acquiring an additional 3,460 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in ScanSource by 27.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 100,655 shares of the industrial products company’s stock valued at $4,776,000 after acquiring an additional 21,761 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in ScanSource by 0.7% during the fourth quarter. Brandywine Global Investment Management LLC now owns 80,908 shares of the industrial products company’s stock valued at $3,839,000 after purchasing an additional 538 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in ScanSource during the fourth quarter worth about $64,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

About ScanSource

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.