EntryPoint Capital LLC Takes Position in ScanSource, Inc. (NASDAQ:SCSC)

EntryPoint Capital LLC bought a new position in ScanSource, Inc. (NASDAQ:SCSC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,252 shares of the industrial products company’s stock, valued at approximately $344,000.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in ScanSource by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after buying an additional 91,069 shares during the period. Franklin Resources Inc. boosted its holdings in ScanSource by 9.9% in the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company’s stock valued at $1,093,000 after acquiring an additional 2,026 shares in the last quarter. Barclays PLC increased its position in ScanSource by 97.9% during the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock valued at $2,610,000 after purchasing an additional 26,881 shares during the period. Allspring Global Investments Holdings LLC bought a new position in ScanSource in the 4th quarter worth $807,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of ScanSource by 26.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,899 shares of the industrial products company’s stock worth $572,000 after purchasing an additional 2,459 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insiders Place Their Bets

In other ScanSource news, CEO Michael L. Baur sold 1,994 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.00, for a total value of $75,772.00. Following the sale, the chief executive officer now owns 142,760 shares in the company, valued at approximately $5,424,880. This represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen Jones sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $36.14, for a total transaction of $72,280.00. Following the transaction, the chief financial officer now directly owns 69,816 shares of the company’s stock, valued at $2,523,150.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,994 shares of company stock worth $731,702. 4.20% of the stock is owned by corporate insiders.

ScanSource Price Performance

Shares of NASDAQ SCSC opened at $35.76 on Thursday. ScanSource, Inc. has a 1 year low of $34.49 and a 1 year high of $53.90. The stock has a market capitalization of $839.07 million, a P/E ratio of 14.13, a P/E/G ratio of 1.14 and a beta of 1.41. The company’s 50-day moving average is $39.97 and its 200 day moving average is $45.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30.

ScanSource (NASDAQ:SCSC) last posted its 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 return on equity of 8.55% and a net margin of 2.08%. During the same period in the previous year, the company posted $0.85 EPS. On average, sell-side analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.

ScanSource 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.