ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 2,491 shares of the business’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $22.02, for a total transaction of $54,851.82. Following the completion of the sale, the chief executive officer now owns 65,740 shares in the company, valued at $1,447,594.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

NASDAQ:SCSC opened at $21.61 on Friday. ScanSource, Inc. has a 1-year low of $13.78 and a 1-year high of $39.01. The firm has a 50 day simple moving average of $20.54 and a 200-day simple moving average of $22.95. The firm has a market cap of $548.05 million, a PE ratio of -2.84 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.67 and a quick ratio of 1.04.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Monday, August 31st. The industrial products company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). ScanSource had a negative net margin of 5.50% and a positive return on equity of 6.11%. The business had revenue of $636.50 million during the quarter, compared to analyst estimates of $635.80 million. During the same quarter last year, the firm posted $0.71 earnings per share. The company’s revenue was down 33.8% on a year-over-year basis. As a group, sell-side analysts expect that ScanSource, Inc. will post 1.91 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCSC. Advisor Group Holdings Inc. purchased a new stake in ScanSource in the 1st quarter valued at about $25,000. US Bancorp DE boosted its position in shares of ScanSource by 250.5% in the second quarter. US Bancorp DE now owns 1,069 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 764 shares during the last quarter. Nachman Norwood & Parrott Inc purchased a new stake in ScanSource in the third quarter valued at approximately $40,000. Bank of Montreal Can increased its position in ScanSource by 296.9% during the second quarter. Bank of Montreal Can now owns 2,977 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 2,227 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in ScanSource by 8.6% during the second quarter. Pacer Advisors Inc. now owns 9,713 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 772 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

A number of equities analysts have issued reports on SCSC shares. TheStreet cut shares of ScanSource from a “c” rating to a “d+” rating in a research report on Monday, August 31st. Raymond James restated a “buy” rating and set a $24.00 price objective on shares of ScanSource in a research report on Tuesday, September 1st. ValuEngine cut ScanSource from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. BidaskClub raised ScanSource from a “hold” rating to a “buy” rating in a report on Thursday, October 8th. Finally, Zacks Investment Research lowered ScanSource from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.00.

ScanSource Company Profile

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).

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