Olympiad Research LP Invests $277,000 in ScanSource, Inc. (NASDAQ:SCSC)

Olympiad Research LP purchased a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 5,757 shares of the industrial products company’s stock, valued at approximately $277,000.

Several other large investors have also modified their holdings of SCSC. CWM LLC lifted its position in shares of ScanSource by 164.1% during the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 402 shares during the last quarter. nVerses Capital LLC bought a new position in ScanSource in the second quarter worth about $40,000. Quest Partners LLC bought a new position in ScanSource in the second quarter worth about $41,000. Innealta Capital LLC bought a new position in ScanSource in the second quarter worth about $58,000. Finally, SG Americas Securities LLC bought a new position in ScanSource in the first quarter worth about $128,000. Institutional investors own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James cut shares of ScanSource from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th.

ScanSource Stock Performance

Shares of NASDAQ SCSC opened at $50.77 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.10 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $47.15 and its two-hundred day moving average price is $46.71. ScanSource, Inc. has a 52-week low of $27.86 and a 52-week high of $53.48. The stock has a market capitalization of $1.22 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.37 and a beta of 1.42.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, August 27th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). ScanSource had a net margin of 2.36% and a return on equity of 8.32%. The firm had revenue of $746.11 million during the quarter, compared to analyst estimates of $838.60 million. During the same quarter in the previous year, the business posted $0.76 EPS. ScanSource’s revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, sell-side analysts forecast that ScanSource, Inc. will post 3.24 earnings per share for the current year.

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.