Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CEO Sells 1,800 Shares of Stock
ScanSource, Inc. (NASDAQ:SCSC – Get Rating) CEO Michael L. Baur sold 1,800 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $38.74, for a total value of $69,732.00. Following the completion of the transaction, the chief executive officer now owns 79,192 shares in the company, valued at $3,067,898.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of ScanSource stock opened at $37.41 on Friday. The firm has a market cap of $943.85 million, a price-to-earnings ratio of 10.42 and a beta of 1.44. The stock’s 50-day moving average is $35.75 and its 200-day moving average is $34.08. ScanSource, Inc. has a one year low of $24.89 and a one year high of $41.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.76 and a quick ratio of 1.02.
ScanSource (NASDAQ:SCSC – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.35. The company had revenue of $846.00 million for the quarter, compared to analyst estimates of $764.20 million. ScanSource had a return on equity of 13.55% and a net margin of 2.71%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. On average, equities analysts expect that ScanSource, Inc. will post 4 EPS for the current year.
Several research analysts have recently issued reports on SCSC shares. Zacks Investment Research upgraded ScanSource from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Saturday, May 14th. StockNews.com upgraded ScanSource from a “hold” rating to a “buy” rating in a report on Friday, April 15th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, ScanSource presently has an average rating of “Buy” and an average target price of $43.00.
Large investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new stake in shares of ScanSource in the third quarter valued at about $41,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of ScanSource in the first quarter valued at about $45,000. Advisor Group Holdings Inc. increased its position in shares of ScanSource by 153.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,594 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 966 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in ScanSource during the fourth quarter worth approximately $70,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in ScanSource during the first quarter worth approximately $94,000. 95.98% of the stock is currently owned by institutional investors and hedge funds.
About ScanSource (Get Rating)
ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. It operates in two segments, Worldwide Barcode, Networking & Security; and Worldwide Communications & Services. The Worldwide Barcode, Networking & Security 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.
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