AQR Capital Management LLC Sells 26,202 Shares of ScanSource, Inc. (NASDAQ:SCSC)

AQR Capital Management LLC lessened its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,881 shares of the industrial products company's stock after selling 26,202 shares during the period. AQR Capital Management LLC owned about 0.53% of ScanSource worth $5,878,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Barclays PLC raised its position in shares of ScanSource by 97.9% in the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company's stock worth $2,610,000 after acquiring an additional 26,881 shares in the last quarter. Franklin Resources Inc. grew its stake in ScanSource by 9.9% in the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company's stock worth $1,093,000 after purchasing an additional 2,026 shares during the period. JPMorgan Chase & Co. raised its holdings in ScanSource by 31.8% in the third quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company's stock worth $18,111,000 after purchasing an additional 91,069 shares in the last quarter. Ritholtz Wealth Management lifted its position in ScanSource by 63.5% during the fourth quarter. Ritholtz Wealth Management now owns 15,013 shares of the industrial products company's stock valued at $712,000 after buying an additional 5,830 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of ScanSource by 5.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 21,519 shares of the industrial products company's stock worth $1,021,000 after buying an additional 1,132 shares during the period. 97.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target for the company in a research report on Tuesday, May 6th.

ScanSource Stock Up 3.9 %

Shares of SCSC traded up $1.50 during mid-day trading on Friday, reaching $39.89. The company had a trading volume of 322,132 shares, compared to its average volume of 233,485. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. The company has a market capitalization of $935.98 million, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30. The firm has a 50-day moving average price of $33.97 and a 200 day moving average price of $42.08. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its earnings results on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $704.23 million for the quarter, compared to analysts' expectations of $809.17 million. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. The company's quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, sell-side analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael L. Baur sold 1,994 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $38.00, for a total value of $75,772.00. Following the sale, the chief executive officer now owns 142,760 shares in the company, valued at approximately $5,424,880. This trade represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephen Jones sold 2,000 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $36.14, for a total value of $72,280.00. Following the completion of the transaction, the chief financial officer now directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

ScanSource Profile

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.