Rhumbline Advisers Lowers Stake in ScanSource, Inc. (NASDAQ:SCSC)

Rhumbline Advisers reduced its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,069 shares of the industrial products company’s stock after selling 1,544 shares during the quarter. Rhumbline Advisers owned approximately 0.33% of ScanSource worth $3,704,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SCSC. Pacer Advisors Inc. lifted its stake in ScanSource by 18.3% in the third quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock worth $131,828,000 after acquiring an additional 425,233 shares during the period. Wasatch Advisors LP lifted its stake in ScanSource by 13.2% in the third quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after acquiring an additional 127,883 shares during the period. JPMorgan Chase & Co. lifted its stake in ScanSource by 31.8% in the third quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after acquiring an additional 91,069 shares during the period. Janney Montgomery Scott LLC purchased a new stake in ScanSource in the third quarter worth about $1,674,000. Finally, Barclays PLC raised its holdings in ScanSource by 97.9% in the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock worth $2,610,000 after purchasing an additional 26,881 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Brandy Ford sold 1,845 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the transaction, the chief accounting officer now owns 9,506 shares in the company, valued at approximately $469,406.28. This represents a 16.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael L. Baur sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $38.91, for a total value of $583,650.00. Following the completion of the sale, the chief executive officer now owns 162,760 shares in the company, valued at approximately $6,332,991.60. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,839 shares of company stock worth $750,528 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

ScanSource Stock Performance

Shares of ScanSource stock opened at $36.61 on Friday. The company has a market capitalization of $859.02 million, a PE ratio of 14.47, a P/E/G ratio of 1.14 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. The company has a 50-day simple moving average of $44.45 and a two-hundred day simple moving average of $47.20. ScanSource, Inc. has a one year low of $36.05 and a one year high of $53.90.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Thursday, January 30th. The industrial products company reported $0.85 EPS 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 quarter in the prior year, the company earned $0.85 earnings per share. Research analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

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.