AQR Capital Management LLC boosted its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 34.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,016 shares of the industrial products company’s stock after buying an additional 59,018 shares during the period. AQR Capital Management LLC’s holdings in ScanSource were worth $9,028,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in ScanSource by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 2,790 shares of the industrial products company’s stock valued at $109,000 after buying an additional 20 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in ScanSource by 33.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,856 shares of the industrial products company’s stock valued at $156,000 after buying an additional 973 shares in the last quarter. SG Americas Securities LLC raised its stake in ScanSource by 0.3% in the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock valued at $167,000 after buying an additional 14 shares in the last quarter. Mason Street Advisors LLC raised its stake in ScanSource by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,905 shares of the industrial products company’s stock valued at $232,000 after buying an additional 409 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in ScanSource by 3.8% in the first quarter. Blair William & Co. IL now owns 6,858 shares of the industrial products company’s stock valued at $269,000 after buying an additional 250 shares in the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.
Shares of ScanSource, Inc. (SCSC) opened at 39.65 on Monday. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 16.09 and a beta of 1.16. ScanSource, Inc. has a 1-year low of $29.05 and a 1-year high of $44.95. The stock’s 50 day moving average price is $38.73 and its 200 day moving average price is $39.86.
ScanSource (NASDAQ:SCSC) last released its earnings results on Tuesday, May 9th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by $0.01. ScanSource had a return on equity of 8.41% and a net margin of 1.79%. The business had revenue of $813.50 million for the quarter, compared to analyst estimates of $833.10 million. During the same period in the prior year, the firm posted $0.64 EPS. ScanSource’s revenue was up 1.9% on a year-over-year basis. Analysts expect that ScanSource, Inc. will post $2.76 EPS for the current year.
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Separately, Zacks Investment Research raised ScanSource from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Saturday, May 6th.
In other ScanSource news, CEO Michael L. Baur sold 67,000 shares of ScanSource stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $39.07, for a total transaction of $2,617,690.00. Following the completion of the sale, the chief executive officer now owns 47,890 shares of the company’s stock, valued at approximately $1,871,062.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven R. Fischer sold 5,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $40.19, for a total transaction of $200,950.00. Following the completion of the transaction, the director now directly owns 20,867 shares of the company’s stock, valued at approximately $838,644.73. The disclosure for this sale can be found here. Insiders have sold a total of 77,000 shares of company stock valued at $3,019,290 in the last ninety days. Company insiders own 3.03% of the company’s stock.
ScanSource Company Profile
ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.
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