Tudor Investment Corp ET AL Decreases Holdings in ScanSource, Inc. $SCSC

Tudor Investment Corp ET AL lowered its stake in ScanSource, Inc. (NASDAQ:SCSC) by 16.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 113,454 shares of the industrial products company’s stock after selling 21,602 shares during the period. Tudor Investment Corp ET AL’s holdings in ScanSource were worth $4,991,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCSC. Wasatch Advisors LP lifted its stake in ScanSource by 34.9% in the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock valued at $50,130,000 after buying an additional 294,624 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in ScanSource by 65.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company’s stock valued at $17,152,000 after buying an additional 154,518 shares in the last quarter. Jane Street Group LLC lifted its stake in ScanSource by 148.3% in the 1st quarter. Jane Street Group LLC now owns 199,799 shares of the industrial products company’s stock valued at $6,795,000 after buying an additional 119,317 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in ScanSource by 1,177.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 120,200 shares of the industrial products company’s stock valued at $5,288,000 after buying an additional 110,787 shares in the last quarter. Finally, Denali Advisors LLC lifted its stake in ScanSource by 1,066.3% in the 3rd quarter. Denali Advisors LLC now owns 104,441 shares of the industrial products company’s stock valued at $4,594,000 after buying an additional 95,486 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Trading Up 2.7%

Shares of SCSC opened at $38.16 on Thursday. The stock has a fifty day moving average of $37.12 and a two-hundred day moving average of $39.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.96. The company has a market capitalization of $819.68 million, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.62 and a beta of 1.25. ScanSource, Inc. has a fifty-two week low of $28.82 and a fifty-two week high of $46.25.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.20). The business had revenue of $766.51 million during the quarter, compared to analyst estimates of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SCSC. Zacks Research lowered ScanSource from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Wall Street Zen lowered ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ScanSource presently has a consensus rating of “Hold” and an average target price of $42.50.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 21,173 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $35.76, for a total value of $757,146.48. Following the completion of the transaction, the chief executive officer directly owned 161,339 shares in the company, valued at approximately $5,769,482.64. The trade was a 11.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles Alexander Mathis purchased 6,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was acquired at an average price of $35.20 per share, with a total value of $211,200.00. Following the completion of the acquisition, the director directly owned 24,793 shares in the company, valued at $872,713.60. The trade was a 31.93% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.18% of the company’s stock.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.