ScanSource (NASDAQ:SCSC) Shares Down 2.9% After Insider Selling

ScanSource, Inc. (NASDAQ:SCSC)’s stock price fell 2.9% on Friday following insider selling activity. The company traded as low as $47.97 and last traded at $48.13. 189,020 shares changed hands during trading, a decline of 9% from the average session volume of 208,696 shares. The stock had previously closed at $49.55.

Specifically, CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the completion of the transaction, 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 document filed with the SEC, which is available through this link.

ScanSource Stock Down 4.0 %

The stock’s fifty day simple moving average is $49.32 and its two-hundred day simple moving average is $47.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.50 and a beta of 1.44.

ScanSource (NASDAQ:SCSC) last released 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. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The firm had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. During the same quarter in the prior year, the business earned $0.74 earnings per share. ScanSource’s quarterly revenue was down 11.5% on a year-over-year basis. On average, sell-side analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current fiscal year.

Institutional Trading of ScanSource

Several hedge funds have recently made changes to their positions in SCSC. Pacer Advisors Inc. increased its position in ScanSource by 18.3% in the third quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock worth $131,828,000 after buying an additional 425,233 shares during the period. Dimensional Fund Advisors LP grew its position in shares of ScanSource by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock worth $87,894,000 after acquiring an additional 39,533 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of ScanSource by 13.2% in the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after acquiring an additional 127,883 shares during the period. American Century Companies Inc. lifted its position in 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. Finally, Jacobs Levy Equity Management Inc. boosted its stake in ScanSource by 12.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 220,923 shares of the industrial products company’s stock valued at $10,611,000 after purchasing an additional 24,264 shares during the period. Institutional investors own 97.91% of the company’s stock.

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.