ScanSource (NASDAQ:SCSC) Hits New 52-Week Low – What’s Next?

ScanSource, Inc. (NASDAQ:SCSC)’s stock price hit a new 52-week low during trading on Friday . The company 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 Down 4.1 %

The stock has a market cap of $824.78 million, a price-to-earnings ratio of 13.86, a PEG ratio of 1.14 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. The firm’s 50-day simple moving average is $40.97 and its two-hundred day simple moving average is $45.87.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same quarter last year, the business posted $0.85 earnings per share. On average, sell-side analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Insider Transactions at ScanSource

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

Hedge Funds Weigh In On ScanSource

Several hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in ScanSource during the third quarter worth $35,000. Quarry LP increased its stake in shares of ScanSource by 948.7% during the 4th quarter. Quarry LP now owns 797 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 721 shares during the last quarter. KBC Group NV lifted its stake in 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 during the last quarter. Quest Partners LLC grew its holdings in ScanSource by 42.6% during the third quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 395 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in ScanSource during the fourth quarter worth approximately $64,000. Institutional investors own 97.91% of the company’s stock.

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.