ScanSource, Inc. (NASDAQ:SCSC) Sees Significant Decline in Short Interest

ScanSource, Inc. (NASDAQ:SCSC) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 1,740,000 shares, a decrease of 15.9% from the December 15th total of 2,070,000 shares. Based on an average daily trading volume, of 202,100 shares, the days-to-cover ratio is currently 8.6 days. Currently, 8.0% of the company’s shares are sold short.

Insider Buying and Selling at ScanSource

In related news, CEO Michael L. Baur sold 29,617 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $49.20, for a total transaction of $1,457,156.40. Following the completion of the sale, the chief executive officer now directly owns 177,760 shares in the company, valued at approximately $8,745,792. This trade represents a 14.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brandy Ford sold 1,845 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the completion of the transaction, the chief accounting officer now owns 9,506 shares in the company, valued at $469,406.28. This trade represents a 16.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,855 shares of company stock valued at $2,702,949. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in shares of ScanSource by 54.2% during the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock worth $102,776,000 after buying an additional 815,240 shares during the last quarter. American Century Companies Inc. raised its stake in ScanSource by 75.5% during the 2nd quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock valued at $23,091,000 after purchasing an additional 224,160 shares during the last quarter. Millennium Management LLC boosted its holdings in ScanSource by 2,640.7% in the 2nd quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock valued at $6,038,000 after purchasing an additional 131,294 shares during the period. Wasatch Advisors LP grew its position in ScanSource by 13.2% in the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after purchasing an additional 127,883 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of ScanSource by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after purchasing an additional 91,069 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Stock Up 0.8 %

NASDAQ SCSC traded up $0.42 during trading on Friday, reaching $50.46. The company’s stock had a trading volume of 123,056 shares, compared to its average volume of 248,868. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.20 billion, a PE ratio of 16.17, a PEG ratio of 1.35 and a beta of 1.45. ScanSource has a 1-year low of $31.01 and a 1-year high of $53.90. The business has a 50-day moving average price of $49.85 and a 200-day moving average price of $48.21.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The firm had revenue of $775.58 million during the quarter, compared to analysts’ expectations of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. ScanSource’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. On average, research analysts forecast that ScanSource will post 3.51 earnings per share for the current fiscal year.

ScanSource Company Profile

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions 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.