ScanSource Inc. (SCSC) Sees Unusually-High Trading Volume
Shares of ScanSource Inc. (NASDAQ:SCSC) saw unusually-strong trading volume on Monday . Approximately 169,708 shares changed hands during mid-day trading, an increase of 86% from the previous session’s volume of 91,103 shares.The stock last traded at $42.71 and had previously closed at $42.21.
Separately, Zacks Investment Research cut shares of ScanSource from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th.
The company has a 50 day moving average price of $41.37 and a 200-day moving average price of $39.55. The company has a market capitalization of $1.10 billion and a P/E ratio of 17.45.
ScanSource (NASDAQ:SCSC) last posted its earnings results on Monday, August 29th. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.20. The business had revenue of $887.50 million for the quarter, compared to the consensus estimate of $886.20 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. ScanSource’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that ScanSource Inc. will post $2.91 earnings per share for the current fiscal year.
In other ScanSource news, Director Charles R. Whitchurch sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $38.11, for a total transaction of $190,550.00. Following the sale, the director now directly owns 14,300 shares in the company, valued at $544,973. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Patrick Reilly sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $38.84, for a total transaction of $388,400.00. Following the sale, the director now owns 19,000 shares in the company, valued at $737,960. The disclosure for this sale can be found here.
ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.
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