Comerica Bank boosted its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,986 shares of the industrial products company’s stock after buying an additional 1,027 shares during the period. Comerica Bank owned 0.11% of ScanSource worth $1,096,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in shares of ScanSource during the fourth quarter valued at $1,596,000. Cornercap Investment Counsel Inc. bought a new position in shares of ScanSource during the fourth quarter valued at $683,000. Dean Investment Associates LLC boosted its position in shares of ScanSource by 28.3% in the third quarter. Dean Investment Associates LLC now owns 147,085 shares of the industrial products company’s stock valued at $5,369,000 after buying an additional 32,420 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of ScanSource by 162.1% in the third quarter. Mackenzie Financial Corp now owns 90,384 shares of the industrial products company’s stock valued at $3,299,000 after buying an additional 55,901 shares during the last quarter. Finally, SECOR Capital Advisors LP acquired a new position in ScanSource during the third quarter worth approximately $440,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ScanSource, Inc. (NASDAQ:SCSC) traded down 1.09% during mid-day trading on Friday, reaching $38.45. 42,272 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $39.16 and a 200-day moving average price of $38.88. ScanSource, Inc. has a one year low of $29.05 and a one year high of $44.95. The stock has a market cap of $970.94 million, a PE ratio of 15.34 and a beta of 1.18.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Tuesday, February 7th. The industrial products company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. ScanSource had a net margin of 1.85% and a return on equity of 8.56%. The firm earned $904.80 million during the quarter, compared to analyst estimates of $962.57 million. During the same period last year, the firm posted $0.88 EPS. ScanSource’s revenue was down 8.9% on a year-over-year basis. On average, analysts predict that ScanSource, Inc. will post $2.84 EPS for the current year.
Several research analysts have commented on SCSC shares. Zacks Investment Research downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. FinTrust Advisors cut shares of ScanSource from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $42.20 to $48.50 in a research note on Monday, February 20th.
In related news, CEO Michael L. Baur sold 50,000 shares of ScanSource stock in a transaction on Friday, March 17th. The shares were sold at an average price of $40.21, for a total value of $2,010,500.00. Following the sale, the chief executive officer now owns 51,572 shares of the company’s stock, valued at approximately $2,073,710.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Grainger sold 2,900 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $43.15, for a total transaction of $125,135.00. Following the completion of the sale, the director now owns 10,400 shares in the company, valued at $448,760. The disclosure for this sale can be found here. Company insiders own 3.03% of the company’s stock.
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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