ScanSource (NASDAQ:SCSC) Shares Gap Down After Earnings Miss

Shares of ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $49.99, but opened at $47.83. ScanSource shares last traded at $45.16, with a volume of 22,913 shares changing hands.

The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a net margin of 2.49% and a return on equity of 8.53%. During the same quarter in the previous year, the firm posted $0.85 EPS.

Insider Activity at ScanSource

In related news, CAO Brandy Ford sold 1,845 shares of the business's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $49.38, for a total transaction of $91,106.10. Following the sale, the chief accounting officer now owns 9,506 shares of the company's stock, valued at $469,406.28. The trade was a 16.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael L. Baur sold 29,617 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $49.20, for a total transaction of $1,457,156.40. Following the completion of the transaction, the chief executive officer now owns 177,760 shares in the company, valued at approximately $8,745,792. This represents a 14.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,855 shares of company stock worth $2,702,949 over the last 90 days. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gladius Capital Management LP bought a new position in shares of ScanSource in the third quarter worth approximately $30,000. Point72 DIFC Ltd bought a new position in ScanSource during the third quarter valued at approximately $35,000. KBC Group NV lifted its position in ScanSource by 59.9% during the third 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 during the period. Quest Partners LLC lifted its position in ScanSource by 42.6% during the third quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company's stock valued at $64,000 after purchasing an additional 395 shares during the period. Finally, Systematic Financial Management LP bought a new position in ScanSource during the third quarter valued at approximately $205,000. Institutional investors own 97.91% of the company's stock.

ScanSource Trading Down 1.7 %

The company has a market cap of $996.87 million, a P/E ratio of 13.41, a P/E/G ratio of 1.42 and a beta of 1.45. The stock's 50-day moving average is $49.69 and its two-hundred day moving average is $48.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27.

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.