ScanSource, Inc. (SCSC) Shares Bought by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan boosted its stake in ScanSource, Inc. (NASDAQ:SCSC) by 142.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 13,890 shares of the industrial products company’s stock after buying an additional 8,160 shares during the period. Municipal Employees Retirement System of Michigan owned 0.05% of ScanSource worth $560,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of ScanSource by 42,757.8% in the first quarter. BlackRock Inc. now owns 3,121,763 shares of the industrial products company’s stock valued at $122,529,000 after buying an additional 3,114,479 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ScanSource by 8.0% in the first quarter. Geode Capital Management LLC now owns 400,568 shares of the industrial products company’s stock valued at $15,722,000 after buying an additional 29,524 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of ScanSource by 10.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 238,866 shares of the industrial products company’s stock valued at $9,376,000 after buying an additional 22,733 shares in the last quarter. Oxford Asset Management bought a new stake in shares of ScanSource during the first quarter valued at $1,111,000. Finally, Nordea Investment Management AB raised its stake in shares of ScanSource by 1.0% in the first quarter. Nordea Investment Management AB now owns 373,252 shares of the industrial products company’s stock valued at $14,650,000 after buying an additional 3,641 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Shares of ScanSource, Inc. (NASDAQ SCSC) opened at 37.00 on Monday. The firm has a 50-day moving average price of $39.43 and a 200 day moving average price of $39.60. ScanSource, Inc. has a 12 month low of $29.05 and a 12 month high of $44.95. The firm has a market capitalization of $936.62 million, a price-to-earnings ratio of 15.02 and a beta of 1.16.

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Several equities research analysts have weighed in on SCSC shares. Zacks Investment Research raised ScanSource from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Saturday, May 6th. BidaskClub lowered ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.17.

In related news, CEO Michael L. Baur sold 67,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $39.07, for a total value of $2,617,690.00. Following the sale, the chief executive officer now owns 47,890 shares of the company’s stock, valued at approximately $1,871,062.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven R. Fischer sold 5,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $40.13, for a total value of $200,650.00. Following the completion of the sale, the director now directly owns 25,867 shares in the company, valued at approximately $1,038,042.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,000 shares of company stock worth $3,019,290. 3.03% of the stock is owned by insiders.

About ScanSource

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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Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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