Foundry Partners LLC Has $4.05 Million Position in ScanSource, Inc. (SCSC)
Foundry Partners LLC boosted its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 8.2% during the second quarter, Holdings Channel reports. The institutional investor owned 100,519 shares of the industrial products company’s stock after buying an additional 7,600 shares during the period. Foundry Partners LLC’s holdings in ScanSource were worth $4,051,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its stake in shares of ScanSource by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 2,790 shares of the industrial products company’s stock valued at $109,000 after buying an additional 20 shares in the last quarter. SG Americas Securities LLC increased its stake in ScanSource by 0.3% in the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock worth $167,000 after buying an additional 14 shares during the period. CHICAGO TRUST Co NA bought a new stake in ScanSource during the second quarter worth about $218,000. Mason Street Advisors LLC increased its stake in ScanSource by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,905 shares of the industrial products company’s stock worth $232,000 after buying an additional 409 shares during the period. Finally, Blair William & Co. IL increased its stake in ScanSource by 3.8% in the first quarter. Blair William & Co. IL now owns 6,858 shares of the industrial products company’s stock worth $269,000 after buying an additional 250 shares during the period. Institutional investors own 94.67% of the company’s stock.
Shares of ScanSource, Inc. (SCSC) opened at 38.50 on Tuesday. The company’s 50-day moving average is $39.70 and its 200-day moving average is $39.68. ScanSource, Inc. has a 12-month low of $29.05 and a 12-month high of $44.95. The stock has a market cap of $974.59 million, a P/E ratio of 15.62 and a beta of 1.16.
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A number of analysts recently issued reports on SCSC shares. Zacks Investment Research downgraded shares of ScanSource from a “buy” rating to a “sell” rating in a report on Saturday, May 13th. BidaskClub downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.17.
In related news, Director Steven R. Fischer sold 5,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $40.19, for a total value of $200,950.00. Following the transaction, the director now owns 20,867 shares in the company, valued at approximately $838,644.73. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 67,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $39.07, for a total transaction of $2,617,690.00. Following the completion of the transaction, the chief executive officer now owns 47,890 shares in the company, valued at approximately $1,871,062.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,000 shares of company stock worth $3,019,290. 3.03% of the stock is currently owned by company insiders.
ScanSource Company Profile
ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.
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