9,500 Shares in ScanSource, Inc. (SCSC) Acquired by Capital Management Associates NY

Capital Management Associates NY bought a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,500 shares of the industrial products company’s stock, valued at approximately $415,000.

Several other institutional investors have also added to or reduced their stakes in SCSC. BlackRock Inc. grew its holdings in shares of ScanSource by 42,757.8% during the first quarter. BlackRock Inc. now owns 3,121,763 shares of the industrial products company’s stock worth $122,529,000 after buying an additional 3,114,479 shares in the last quarter. LSV Asset Management grew its holdings in shares of ScanSource by 33.1% during the second quarter. LSV Asset Management now owns 849,662 shares of the industrial products company’s stock worth $34,241,000 after buying an additional 211,471 shares in the last quarter. Northern Trust Corp grew its holdings in shares of ScanSource by 24.1% during the second quarter. Northern Trust Corp now owns 666,664 shares of the industrial products company’s stock worth $26,867,000 after buying an additional 129,636 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of ScanSource by 5.0% during the first quarter. Vanguard Group Inc. now owns 2,299,971 shares of the industrial products company’s stock worth $90,273,000 after buying an additional 109,814 shares in the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of ScanSource by 432.2% during the second quarter. Nationwide Fund Advisors now owns 105,341 shares of the industrial products company’s stock worth $4,245,000 after buying an additional 85,549 shares in the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

ScanSource, Inc. (NASDAQ SCSC) remained flat at $$37.25 during midday trading on Tuesday. 75,800 shares of the stock were exchanged, compared to its average volume of 93,714. ScanSource, Inc. has a 12 month low of $35.54 and a 12 month high of $45.35. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The company has a market cap of $924.36, a price-to-earnings ratio of 13.12, a PEG ratio of 4.17 and a beta of 1.11.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.02). ScanSource had a net margin of 1.65% and a return on equity of 8.78%. The company had revenue of $924.56 million during the quarter, compared to analyst estimates of $966.20 million. During the same period in the previous year, the company earned $0.68 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. sell-side analysts expect that ScanSource, Inc. will post 2.98 EPS for the current fiscal year.

In related news, Director John Patrick Reilly sold 4,023 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $41.00, for a total transaction of $164,943.00. Following the sale, the director now directly owns 16,900 shares in the company, valued at $692,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael L. Baur sold 17,621 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $44.32, for a total transaction of $780,962.72. Following the sale, the chief executive officer now owns 35,209 shares in the company, valued at $1,560,462.88. The disclosure for this sale can be found here. Insiders have sold 90,397 shares of company stock worth $3,959,574 in the last three months. Corporate insiders own 2.35% of the company’s stock.

A number of equities research analysts have recently issued reports on SCSC shares. ValuEngine raised shares of ScanSource from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub lowered shares of ScanSource from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of ScanSource from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. TheStreet lowered shares of ScanSource from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Finally, Northcoast Research lowered shares of ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $45.75.

ILLEGAL ACTIVITY WARNING: “9,500 Shares in ScanSource, Inc. (SCSC) Acquired by Capital Management Associates NY” was first posted by Markets Daily and is the property of of Markets Daily. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/11/14/9500-shares-in-scansource-inc-scsc-acquired-by-capital-management-associates-ny.html.

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.

Want to see what other hedge funds are holding SCSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ScanSource, Inc. (NASDAQ:SCSC).

Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

Receive News & Ratings for ScanSource Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply