ScanSource, Inc. (NASDAQ:SCSC) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in ScanSource, Inc. (NASDAQ:SCSC) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,814 shares of the industrial products company’s stock after selling 734 shares during the quarter. Amalgamated Bank’s holdings in ScanSource were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SCSC. Pacer Advisors Inc. boosted its holdings in ScanSource by 54.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock valued at $102,776,000 after acquiring an additional 815,240 shares during the period. American Century Companies Inc. lifted its position in shares of ScanSource by 75.5% during the second quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock worth $23,091,000 after purchasing an additional 224,160 shares in the last quarter. Millennium Management LLC boosted its stake in shares of ScanSource by 2,640.7% in the second quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock valued at $6,038,000 after purchasing an additional 131,294 shares during the period. Vanguard Group Inc. grew its holdings in shares of ScanSource by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after purchasing an additional 40,264 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in 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 buying an additional 39,533 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

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

ScanSource Price Performance

Shares of NASDAQ SCSC opened at $48.89 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The stock’s 50-day moving average is $47.33 and its two-hundred day moving average is $47.12. ScanSource, Inc. has a 1-year low of $31.01 and a 1-year high of $53.76.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The firm had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Analysts forecast that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

ScanSource 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.