Denali Advisors LLC Purchases Shares of 8,955 ScanSource, Inc. $SCSC

Denali Advisors LLC purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC) in the second quarter, HoldingsChannel.com reports. The firm purchased 8,955 shares of the industrial products company’s stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCSC. GAMMA Investing LLC raised its stake in ScanSource by 25.5% in the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company’s stock valued at $66,000 after buying an additional 395 shares during the last quarter. Quarry LP raised its stake in ScanSource by 344.3% in the first quarter. Quarry LP now owns 3,541 shares of the industrial products company’s stock valued at $120,000 after buying an additional 2,744 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in ScanSource in the second quarter valued at about $131,000. Praxis Investment Management Inc. purchased a new stake in ScanSource in the second quarter valued at about $207,000. Finally, Bailard Inc. raised its stake in ScanSource by 28.3% in the first quarter. Bailard Inc. now owns 6,800 shares of the industrial products company’s stock valued at $231,000 after buying an additional 1,500 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Rachel Hayden sold 1,080 shares of ScanSource stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $44.69, for a total transaction of $48,265.20. Following the transaction, the executive vice president owned 11,688 shares in the company, valued at approximately $522,336.72. This trade represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael L. Baur sold 102,031 shares of ScanSource stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $44.96, for a total value of $4,587,313.76. Following the transaction, the chief executive officer owned 227,512 shares in the company, valued at approximately $10,228,939.52. The trade was a 30.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,677 shares of company stock worth $6,876,030. 4.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SCSC has been the topic of a number of research reports. Zacks Research lowered ScanSource from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Wall Street Zen lowered ScanSource from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Barclays started coverage on ScanSource in a report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of ScanSource in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.50.

ScanSource Stock Performance

NASDAQ SCSC opened at $42.88 on Friday. The company has a market cap of $938.43 million, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.71 and a beta of 1.36. The stock’s 50 day simple moving average is $43.38 and its 200-day simple moving average is $40.41. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.01 and a quick ratio of 1.30.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, August 21st. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The business had revenue of $812.89 million for the quarter, compared to the consensus estimate of $776.21 million. During the same quarter last year, the business posted $0.80 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. ScanSource has set its FY 2026 guidance at EPS. As a group, equities research analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

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.