Michael J. Grainger Acquires 2,700 Shares of ScanSource, Inc. (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) Director Michael J. Grainger bought 2,700 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were acquired at an average price of $18.52 per share, for a total transaction of $50,004.00. Following the completion of the transaction, the director now directly owns 30,200 shares in the company, valued at approximately $559,304. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ScanSource stock traded up $0.05 during midday trading on Wednesday, reaching $18.53. The stock had a trading volume of 128,393 shares, compared to its average volume of 123,539. The company has a quick ratio of 1.04, a current ratio of 1.67 and a debt-to-equity ratio of 0.31. ScanSource, Inc. has a 52-week low of $13.78 and a 52-week high of $39.01. The firm has a market cap of $469.94 million, a price-to-earnings ratio of -2.44 and a beta of 1.32. The company has a fifty day moving average of $23.24 and a 200 day moving average of $23.25.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Monday, August 31st. The industrial products company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $636.50 million during the quarter, compared to analysts’ expectations of $635.80 million. ScanSource had a positive return on equity of 6.11% and a negative net margin of 5.50%. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. Equities research analysts predict that ScanSource, Inc. will post 1.91 EPS for the current year.

SCSC has been the topic of several recent research reports. TheStreet cut shares of ScanSource from a “c” rating to a “d+” rating in a research report on Monday, August 31st. Raymond James restated a “buy” rating and set a $24.00 target price on shares of ScanSource in a research report on Tuesday, September 1st. ValuEngine raised shares of ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Zacks Investment Research lowered shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, BidaskClub raised shares of ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.00.

Hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. bought a new position in ScanSource in the 1st quarter worth about $25,000. US Bancorp DE grew its stake in ScanSource by 250.5% in the 2nd quarter. US Bancorp DE now owns 1,069 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 764 shares in the last quarter. Bank of Montreal Can grew its stake in ScanSource by 296.9% in the 2nd quarter. Bank of Montreal Can now owns 2,977 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 2,227 shares in the last quarter. SG Americas Securities LLC grew its stake in ScanSource by 40.4% in the 1st quarter. SG Americas Securities LLC now owns 9,108 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 2,620 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in ScanSource by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 9,713 shares of the industrial products company’s stock worth $234,000 after acquiring an additional 772 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

ScanSource Company Profile

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).

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