Balyasny Asset Management L.P. Makes New $521,000 Investment in ScanSource, Inc. (NASDAQ:SCSC)

Balyasny Asset Management L.P. bought a new position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,974 shares of the industrial products company's stock, valued at approximately $521,000.

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of 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 buying an additional 2,026 shares in the last quarter. Barclays PLC lifted its position in shares of ScanSource by 97.9% in the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company's stock worth $2,610,000 after buying an additional 26,881 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of ScanSource in the fourth quarter worth about $807,000. Ritholtz Wealth Management lifted its position in shares of ScanSource by 63.5% in the fourth quarter. Ritholtz Wealth Management now owns 15,013 shares of the industrial products company's stock worth $712,000 after buying an additional 5,830 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its position in shares of ScanSource by 59.1% in the fourth quarter. Susquehanna International Group LLP now owns 46,837 shares of the industrial products company's stock worth $2,222,000 after buying an additional 17,406 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Stephen Jones sold 2,000 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the sale, the chief financial officer now directly owns 69,816 shares in the company, valued at $2,523,150.24. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.20% of the company's stock.

ScanSource Trading Down 0.5%

NASDAQ:SCSC traded down $0.20 during midday trading on Wednesday, hitting $40.03. The stock had a trading volume of 22,295 shares, compared to its average volume of 233,105. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The company has a market capitalization of $904.40 million, a price-to-earnings ratio of 15.83, a PEG ratio of 1.14 and a beta of 1.30. The stock has a 50-day moving average of $34.64 and a 200 day moving average of $41.93. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com raised ScanSource from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price on the stock in a research note on Tuesday, May 6th.

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.