Squarepoint Ops LLC Has $1.37 Million Position in ScanSource, Inc. (NASDAQ:SCSC)

Squarepoint Ops LLC grew its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 93.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,862 shares of the industrial products company’s stock after buying an additional 14,892 shares during the quarter. Squarepoint Ops LLC owned approximately 0.12% of ScanSource worth $1,367,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SCSC. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 40,264 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of ScanSource by 54.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock worth $102,776,000 after purchasing an additional 815,240 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ScanSource by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock worth $87,894,000 after purchasing an additional 39,533 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of ScanSource by 67.9% in the 1st quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock valued at $46,501,000 after buying an additional 426,945 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of ScanSource by 75.5% in the second quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock valued at $23,091,000 after buying an additional 224,160 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded shares of ScanSource from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th.

Insider Buying and Selling at ScanSource

In other news, CEO Michael L. Baur sold 7,798 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were 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 approximately $5,173,084.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ScanSource news, CEO Michael L. Baur sold 34,203 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 118,080 shares in the company, valued at $5,017,219.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael L. Baur sold 7,798 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $43.81, for a total value of $341,630.38. Following the sale, the chief executive officer now owns 118,080 shares of the company’s stock, valued at approximately $5,173,084.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.56% of the company’s stock.

ScanSource Stock Performance

NASDAQ SCSC opened at $47.41 on Friday. The stock has a market cap of $1.14 billion, a PE ratio of 15.05, a P/E/G ratio of 1.44 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.33 and a current ratio of 2.10. The firm has a 50-day moving average of $48.00 and a 200-day moving average of $45.93. ScanSource, Inc. has a 52-week low of $27.86 and a 52-week high of $53.28.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). The company had revenue of $746.11 million for the quarter, compared to analyst estimates of $838.60 million. ScanSource had a return on equity of 8.32% and a net margin of 2.36%. The company’s revenue was down 21.2% on a year-over-year basis. During the same quarter last year, the business earned $0.76 earnings per share. On average, sell-side analysts anticipate that ScanSource, Inc. will post 3.24 EPS for the current year.

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.