ScanSource (NASDAQ:SCSC) Sets New 52-Week Low - Time to Sell?

ScanSource, Inc. (NASDAQ:SCSC - Get Free Report)'s share price reached a new 52-week low on Friday . The stock traded as low as $34.85 and last traded at $35.06, with a volume of 257284 shares traded. The stock had previously closed at $36.65.

ScanSource Stock Up 4.5 %

The firm has a market capitalization of $866.29 million, a PE ratio of 14.59, a PEG ratio of 1.14 and a beta of 1.41. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $40.73 and a 200 day simple moving average of $45.72.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.04). ScanSource had a return on equity of 8.55% and a net margin of 2.08%. During the same quarter in the prior year, the company earned $0.85 earnings per share. As a group, sell-side analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Activity

In other news, CEO Michael L. Baur sold 15,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $38.91, for a total value of $583,650.00. Following the transaction, the chief executive officer now owns 162,760 shares of the company's stock, valued at $6,332,991.60. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.20% of the company's stock.

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Hedge Funds Weigh In On ScanSource

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in shares of ScanSource by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company's stock valued at $18,111,000 after buying an additional 91,069 shares during the period. Franklin Resources Inc. boosted its position in ScanSource by 9.9% during the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company's stock valued at $1,093,000 after purchasing an additional 2,026 shares in the last quarter. Barclays PLC grew its holdings in ScanSource by 97.9% in the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company's stock worth $2,610,000 after purchasing an additional 26,881 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of ScanSource during the fourth quarter valued at about $807,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in ScanSource by 97.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 33,939 shares of the industrial products company's stock worth $1,630,000 after acquiring an additional 16,746 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Company Profile

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.