Hussman Strategic Advisors Inc. Lowers Stake in ScanSource, Inc. (SCSC)
Hussman Strategic Advisors Inc. lowered its stake in ScanSource, Inc. (NASDAQ:SCSC) by 32.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,400 shares of the industrial products company’s stock after selling 25,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in ScanSource were worth $2,112,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of SCSC. State of Alaska Department of Revenue increased its stake in shares of ScanSource by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 2,790 shares of the industrial products company’s stock valued at $109,000 after buying an additional 20 shares during the period. SG Americas Securities LLC increased its stake in shares of ScanSource by 0.3% in the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock valued at $167,000 after buying an additional 14 shares during the period. CHICAGO TRUST Co NA bought a new stake in shares of ScanSource during the second quarter valued at about $218,000. Mason Street Advisors LLC increased its stake in shares of ScanSource by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,905 shares of the industrial products company’s stock valued at $232,000 after buying an additional 409 shares during the period. Finally, Blair William & Co. IL increased its stake in shares of ScanSource by 3.8% in the first quarter. Blair William & Co. IL now owns 6,858 shares of the industrial products company’s stock valued at $269,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 94.39% of the company’s stock.
Shares of ScanSource, Inc. (NASDAQ:SCSC) opened at 38.70 on Tuesday. 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 $979.65 million, a P/E ratio of 15.71 and a beta of 1.16. The firm’s 50-day moving average is $39.72 and its 200 day moving average is $39.80.
ScanSource (NASDAQ:SCSC) last released its earnings results on Tuesday, May 9th. The industrial products company reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by $0.01. ScanSource had a net margin of 1.79% and a return on equity of 8.41%. The company had revenue of $813.50 million for the quarter, compared to the consensus estimate of $833.10 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that ScanSource, Inc. will post $2.76 EPS for the current year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of ScanSource from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Saturday, May 6th. BidaskClub downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $45.17.
In other news, CEO Michael L. Baur sold 67,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $39.07, for a total transaction of $2,617,690.00. Following the completion of the transaction, the chief executive officer now directly owns 47,890 shares of the company’s stock, valued at approximately $1,871,062.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven R. Fischer sold 5,000 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $40.19, for a total transaction of $200,950.00. Following the transaction, the director now directly owns 20,867 shares of the company’s stock, valued at $838,644.73. The disclosure for this sale can be found here. Insiders have sold a total of 77,000 shares of company stock valued at $3,019,290 over the last three months. Insiders own 3.03% of the company’s stock.
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.
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