Citadel Advisors LLC increased its stake in ScanSource, Inc. (NASDAQ:SCSC) by 51.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,659 shares of the industrial products company’s stock after purchasing an additional 18,890 shares during the quarter. Citadel Advisors LLC owned 0.22% of ScanSource worth $2,430,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. SG Americas Securities LLC boosted its position in shares of ScanSource by 26.5% in the third quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock worth $263,000 after acquiring an additional 1,262 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of ScanSource by 17.6% in the third quarter. Russell Investments Group Ltd. now owns 66,732 shares of the industrial products company’s stock worth $2,912,000 after acquiring an additional 10,002 shares during the last quarter. Capital Management Associates NY acquired a new stake in shares of ScanSource in the third quarter worth approximately $415,000. Municipal Employees Retirement System of Michigan boosted its position in shares of ScanSource by 25.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,430 shares of the industrial products company’s stock worth $761,000 after acquiring an additional 3,540 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in ScanSource by 34.8% in the third quarter. BNP Paribas Arbitrage SA now owns 13,961 shares of the industrial products company’s stock valued at $609,000 after buying an additional 3,604 shares during the period. Hedge funds and other institutional investors own 94.42% of the company’s stock.
Several research analysts recently commented on the stock. BidaskClub lowered shares of ScanSource from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Zacks Investment Research upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. TheStreet lowered shares of ScanSource from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. ValuEngine lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Northcoast Research lowered shares of ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. ScanSource has a consensus rating of “Hold” and an average target price of $45.75.
ScanSource, Inc. (SCSC) opened at $34.90 on Wednesday. ScanSource, Inc. has a 1-year low of $33.55 and a 1-year high of $45.35. The stock has a market cap of $896.01, a price-to-earnings ratio of 12.38, a PEG ratio of 3.93 and a beta of 1.03. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The firm had revenue of $924.56 million for the quarter, compared to analyst estimates of $966.20 million. ScanSource had a net margin of 1.65% and a return on equity of 8.78%. The business’s revenue was down .9% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. sell-side analysts expect that ScanSource, Inc. will post 2.98 EPS for the current year.
In other ScanSource news, CEO Michael L. Baur sold 44,565 shares of ScanSource stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $44.16, for a total transaction of $1,967,990.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 17,621 shares of ScanSource stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $44.32, for a total value of $780,962.72. Following the transaction, the chief executive officer now directly owns 35,209 shares in the company, valued at approximately $1,560,462.88. The disclosure for this sale can be found here. Insiders sold 90,397 shares of company stock valued at $3,959,574 in the last ninety days. Corporate insiders own 2.35% of the company’s stock.
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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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