10,974 Shares in ScanSource, Inc. (NASDAQ:SCSC) Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,974 shares of the industrial products company's stock, valued at approximately $521,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SCSC. Quarry LP boosted its position in ScanSource by 948.7% during the 4th quarter. Quarry LP now owns 797 shares of the industrial products company's stock worth $38,000 after acquiring an additional 721 shares during the period. New Age Alpha Advisors LLC acquired a new stake in ScanSource in the fourth quarter worth about $64,000. Picton Mahoney Asset Management lifted its holdings in ScanSource by 50.9% in the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company's stock worth $106,000 after purchasing an additional 758 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in ScanSource in the 4th quarter valued at about $126,000. Finally, Tower Research Capital LLC TRC increased its stake in ScanSource by 42.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company's stock valued at $136,000 after buying an additional 848 shares during the period. 97.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Stephen Jones sold 2,000 shares of ScanSource stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $36.14, for a total value of $72,280.00. Following the transaction, the chief financial officer now directly owns 69,816 shares of the company's stock, valued at $2,523,150.24. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.20% of the company's stock.

ScanSource Price Performance

Shares of NASDAQ SCSC traded down $0.31 during midday trading on Monday, reaching $40.48. The company's stock had a trading volume of 121,609 shares, compared to its average volume of 233,770. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The company has a market cap of $914.69 million, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30. The company has a 50 day moving average price of $34.44 and a 200 day moving average price of $41.96. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a research report on Tuesday, May 6th.

ScanSource Company 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.