ScanSource, Inc. (NASDAQ:SCSC) Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 93.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,862 shares of the industrial products company's stock after purchasing an additional 14,892 shares during the quarter. Squarepoint Ops LLC owned approximately 0.12% of ScanSource worth $1,367,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SCSC. Vanguard Group Inc. grew its stake in shares of ScanSource by 1.2% in the 1st 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 during the last quarter. Pacer Advisors Inc. grew its stake in shares of ScanSource by 54.2% in 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 purchasing an additional 815,240 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ScanSource by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company's stock valued at $87,894,000 after purchasing an additional 39,533 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of ScanSource by 67.9% in the 1st quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company's stock valued at $46,501,000 after purchasing an additional 426,945 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of ScanSource by 75.5% in the 2nd quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company's stock valued at $23,091,000 after purchasing an additional 224,160 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

ScanSource Price Performance

SCSC stock traded up $1.72 during midday trading on Friday, hitting $47.41. 137,993 shares of the stock were exchanged, compared to its average volume of 265,030. The stock's 50-day moving average price is $48.00 and its 200-day moving average price is $45.95. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.44 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 debt-to-equity ratio of 0.15, a quick ratio of 1.33 and a current ratio of 2.10.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). ScanSource had a return on equity of 8.32% and a net margin of 2.36%. The firm had revenue of $746.11 million for the quarter, compared to analyst estimates of $838.60 million. During the same period in the prior year, the firm posted $0.76 earnings per share. The business's revenue for the quarter was down 21.2% compared to the same quarter last year. Research analysts predict that ScanSource, Inc. will post 3.24 earnings per share for the current year.

Insider Activity

In other news, CEO Michael L. Baur sold 7,798 shares of ScanSource stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $43.81, for a total value of $341,630.38. Following the completion of the sale, the chief executive officer now owns 118,080 shares of the company's stock, valued at $5,173,084.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael L. Baur sold 34,203 shares of the company's stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $42.49, for a total value of $1,453,285.47. Following the completion of the sale, the chief executive officer now owns 118,080 shares of the company's stock, valued at $5,017,219.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael L. Baur sold 7,798 shares of the company's stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $43.81, for a total value of $341,630.38. Following the completion of the sale, the chief executive officer now directly owns 118,080 shares of the company's stock, valued at $5,173,084.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.56% of the company's stock.

Analyst Upgrades and Downgrades

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

About ScanSource

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.