Magnetar Financial LLC Purchases New Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Magnetar Financial LLC purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 6,858 shares of the industrial products company’s stock, valued at approximately $325,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in ScanSource during the third quarter valued at approximately $35,000. KBC Group NV raised its stake in ScanSource by 59.9% during the third quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock valued at $57,000 after buying an additional 443 shares in the last quarter. Quest Partners LLC raised its stake in ScanSource by 42.6% during the third quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock valued at $64,000 after buying an additional 395 shares in the last quarter. Picton Mahoney Asset Management raised its stake in ScanSource by 50.9% during the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company’s stock valued at $106,000 after buying an additional 758 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in ScanSource during the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Trading Down 3.6 %

Shares of NASDAQ SCSC opened at $35.33 on Friday. The stock’s 50 day moving average price is $40.73 and its two-hundred day moving average price is $45.74. ScanSource, Inc. has a 52-week low of $34.49 and a 52-week high of $53.90. The stock has a market capitalization of $828.98 million, a P/E ratio of 13.96, a PEG ratio of 1.14 and a beta of 1.41. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same period last year, the firm posted $0.85 EPS. On average, analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at ScanSource

In other news, CEO Michael L. Baur sold 1,994 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $38.00, for a total transaction of $75,772.00. Following the sale, the chief executive officer now directly owns 142,760 shares in the company, valued at approximately $5,424,880. This represents a 1.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

About ScanSource

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.