ScanSource, Inc. (NASDAQ:SCSC) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,720 shares of the industrial products company’s stock after buying an additional 264 shares during the period. Rhumbline Advisers owned about 0.35% of ScanSource worth $3,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCSC. EMC Capital Management lifted its holdings in ScanSource by 3.5% in the 1st quarter. EMC Capital Management now owns 7,398 shares of the industrial products company’s stock valued at $326,000 after purchasing an additional 247 shares in the last quarter. CWM LLC grew its position in ScanSource by 164.1% in the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 402 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its position in ScanSource by 0.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 44,389 shares of the industrial products company’s stock valued at $1,758,000 after acquiring an additional 415 shares in the last quarter. Texas Permanent School Fund Corp grew its position in ScanSource by 2.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,029 shares of the industrial products company’s stock valued at $970,000 after acquiring an additional 461 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of ScanSource by 1.2% in the 1st quarter. Swiss National Bank now owns 49,600 shares of the industrial products company’s stock valued at $2,184,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Price Performance

SCSC stock opened at $47.08 on Tuesday. The business has a 50 day moving average price of $47.65 and a 200 day moving average price of $45.48. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.41 and a beta of 1.41. ScanSource, Inc. has a fifty-two week low of $27.86 and a fifty-two week high of $53.28. The company has a quick ratio of 1.33, a current ratio of 2.10 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13). The business had revenue of $746.11 million for the quarter, compared to analysts’ expectations of $838.60 million. ScanSource had a return on equity of 8.32% and a net margin of 2.36%. ScanSource’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities research analysts anticipate that ScanSource, Inc. will post 3.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 6,160 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $43.67, for a total value of $269,007.20. Following the completion of the sale, the chief executive officer now owns 118,080 shares in the company, valued at $5,156,553.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Michael L. Baur sold 34,203 shares of the company’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 of the company’s stock, valued at $5,017,219.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael L. Baur sold 6,160 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $43.67, for a total value of $269,007.20. Following the transaction, the chief executive officer now directly owns 118,080 shares in the company, valued at approximately $5,156,553.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,151 shares of company stock worth $3,914,760. 4.56% of the stock is owned by insiders.

ScanSource Company Profile

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.