ScanSource Inc. (SCSC) Hits New 12-Month High at $43.49
ScanSource Inc. (NASDAQ:SCSC) reached a new 52-week high during trading on Friday . The stock traded as high as $43.49 and last traded at $42.25, with a volume of 23,955 shares traded. The stock had previously closed at $42.42.
Separately, Zacks Investment Research downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th.
The firm has a market capitalization of $1.08 billion and a P/E ratio of 17.25. The company has a 50 day moving average of $41.24 and a 200-day moving average of $39.42.
In related news, Director Charles R. Whitchurch sold 5,000 shares of the stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $38.11, for a total transaction of $190,550.00. Following the transaction, the director now owns 14,300 shares of the company’s stock, valued at approximately $544,973. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Patrick Reilly sold 10,000 shares of the stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $38.84, for a total transaction of $388,400.00. Following the transaction, the director now directly owns 19,000 shares in the company, valued at approximately $737,960. The disclosure for this sale can be found here.
An institutional investor recently raised its position in ScanSource stock. Dimensional Fund Advisors LP raised its stake in shares of ScanSource Inc. (NASDAQ:SCSC) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,819,478 shares of the company’s stock after buying an additional 219,140 shares during the period. Dimensional Fund Advisors LP owned 6.80% of ScanSource worth $58,625,000 at the end of the most recent quarter.
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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