ScanSource (NASDAQ:SCSC) Share Price Crosses Above 200-Day Moving Average of $42.52

ScanSource, Inc. (NASDAQ:SCSC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.52 and traded as high as $44.18. ScanSource shares last traded at $43.42, with a volume of 203,105 shares trading hands.

ScanSource Trading Down 2.0 %

The firm has a market cap of $1.07 billion, a PE ratio of 13.78, a P/E/G ratio of 1.34 and a beta of 1.45. 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 company has a 50 day simple moving average of $45.84 and a two-hundred day simple moving average of $42.52.

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

Insider Buying and Selling at ScanSource

In related news, EVP Shana C. Smith sold 2,245 shares of ScanSource stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $48.00, for a total transaction of $107,760.00. Following the completion of the transaction, the executive vice president now directly owns 16,463 shares in the company, valued at $790,224. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael L. Baur sold 9,053 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $47.76, for a total transaction of $432,371.28. Following the sale, the chief executive officer now directly owns 118,080 shares in the company, valued at approximately $5,639,500.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Shana C. Smith sold 2,245 shares of ScanSource stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $48.00, for a total value of $107,760.00. Following the completion of the transaction, the executive vice president now owns 16,463 shares of the company’s stock, valued at approximately $790,224. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,123 shares of company stock worth $1,565,186. Insiders own 4.56% of the company’s stock.

Institutional Trading of ScanSource

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd increased its holdings in ScanSource by 209.2% in the 3rd quarter. Quadrature Capital Ltd now owns 35,065 shares of the industrial products company’s stock worth $1,063,000 after acquiring an additional 23,725 shares in the last quarter. AQR Capital Management LLC grew its position in shares of ScanSource by 3.4% in the third quarter. AQR Capital Management LLC now owns 210,382 shares of the industrial products company’s stock valued at $6,377,000 after purchasing an additional 7,000 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of ScanSource by 10.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 173,409 shares of the industrial products company’s stock worth $5,256,000 after purchasing an additional 16,323 shares in the last quarter. Gladius Capital Management LP purchased a new position in ScanSource in the 3rd quarter valued at about $36,000. Finally, First Hawaiian Bank boosted its holdings in ScanSource by 13.7% in the 4th quarter. First Hawaiian Bank now owns 21,321 shares of the industrial products company’s stock worth $845,000 after buying an additional 2,574 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.