Geode Capital Management LLC decreased its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585,072 shares of the industrial products company's stock after selling 12,858 shares during the period. Geode Capital Management LLC owned about 2.46% of ScanSource worth $28,106,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in SCSC. Gladius Capital Management LP purchased a new stake in shares of ScanSource during the third quarter worth about $30,000. Point72 DIFC Ltd acquired a new stake in ScanSource during the 3rd quarter valued at approximately $35,000. nVerses Capital LLC acquired a new stake in ScanSource during the 2nd quarter valued at approximately $40,000. Quest Partners LLC purchased a new stake in ScanSource during the 2nd quarter worth approximately $41,000. Finally, KBC Group NV raised its position in shares of ScanSource by 59.9% in the 3rd quarter. KBC Group NV now owns 1,182 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.
ScanSource Stock Down 2.6 %
Shares of SCSC stock traded down $1.28 during mid-day trading on Friday, reaching $47.77. 165,005 shares of the company were exchanged, compared to its average volume of 215,337. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The business's 50 day simple moving average is $49.28 and its 200 day simple moving average is $47.77. The company has a market capitalization of $1.14 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.50 and a beta of 1.44. ScanSource, Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $53.90.
ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. The company had revenue of $775.58 million during the quarter, compared to analyst estimates of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The firm's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Research analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current year.
Insider Activity at ScanSource
In other ScanSource news, CEO Michael L. Baur sold 15,081 shares of ScanSource stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $49.57, for a total value of $747,565.17. Following the completion of the transaction, the chief executive officer now directly owns 177,760 shares in the company, valued at $8,811,563.20. The trade was a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brandy Ford sold 1,845 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the sale, the chief accounting officer now owns 9,506 shares in the company, valued at $469,406.28. The trade was a 16.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,855 shares of company stock valued at $2,702,949 over the last three months. 4.20% of the stock is owned by insiders.
About ScanSource
(
Free Report)
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.
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