Key Points
- Charles Alexander Mathis, a ScanSource director, bought 6,000 shares on Feb. 11 at $35.20 each (total $211,200), increasing his stake 31.93% to 24,793 shares valued at about $872,714, according to an SEC filing.
- ScanSource recently missed earnings expectations, reporting $0.80 EPS vs. $1.00 expected and $766.5M revenue vs. $782.5M expected; the stock traded up ~3.1%, with a P/E of 10.96 and market cap near $767M.
- The stock carries an average analyst rating of "Hold" with a $42.50 target amid recent downgrades (including Zacks to "strong sell"), and institutional investors own roughly 97.9% of the shares.
ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) Director Charles Alexander Mathis acquired 6,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was acquired at an average cost of $35.20 per share, for a total transaction of $211,200.00. Following the acquisition, the director directly owned 24,793 shares in the company, valued at $872,713.60. This represents a 31.93% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
ScanSource Trading Up 3.1%
Shares of SCSC opened at $35.72 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average is $40.34 and its two-hundred day moving average is $41.58. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $46.25. The firm has a market capitalization of $767.27 million, a P/E ratio of 10.96, a PEG ratio of 0.59 and a beta of 1.28.
ScanSource (NASDAQ:SCSC - Get Free Report) last posted its earnings results on Thursday, February 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.20). ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The company had revenue of $766.51 million during the quarter, compared to analysts' expectations of $782.46 million. During the same period in the previous year, the company posted $0.85 EPS. ScanSource's quarterly revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.
Analyst Ratings Changes
SCSC has been the subject of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of ScanSource in a research note on Monday, December 29th. Wall Street Zen lowered shares of ScanSource from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. Finally, Zacks Research lowered ScanSource from a "hold" rating to a "strong sell" rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, ScanSource has an average rating of "Hold" and an average target price of $42.50.
Check Out Our Latest Report on ScanSource
Institutional Trading of ScanSource
Several institutional investors and hedge funds have recently bought and sold shares of SCSC. Robeco Institutional Asset Management B.V. grew its position in ScanSource by 4.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 5,454 shares of the industrial products company's stock worth $240,000 after acquiring an additional 250 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in ScanSource by 2.6% in the second quarter. Nisa Investment Advisors LLC now owns 10,145 shares of the industrial products company's stock worth $424,000 after purchasing an additional 259 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ScanSource by 2.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company's stock worth $471,000 after buying an additional 295 shares during the last quarter. Bailard Inc. raised its holdings in ScanSource by 6.8% during the third quarter. Bailard Inc. now owns 6,300 shares of the industrial products company's stock valued at $277,000 after buying an additional 400 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of ScanSource by 2.6% during the 3rd quarter. Strs Ohio now owns 15,600 shares of the industrial products company's stock worth $686,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.
About ScanSource
(
Get Free Report)
ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.
Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.
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