Castlekeep Investment Advisors LLC Buys New Stake in ScanSource, Inc. (NASDAQ:SCSC)

Castlekeep Investment Advisors LLC acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,658,472 shares of the industrial products company's stock, valued at approximately $78,694,000. Castlekeep Investment Advisors LLC owned approximately 7.07% of ScanSource as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at ScanSource

In other news, CFO Stephen Jones sold 2,000 shares of the stock in a transaction on Friday, March 21st. The stock was 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 owns 69,816 shares of the company's stock, valued at approximately $2,523,150.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $75,772.00. Following the transaction, the chief executive officer now owns 142,760 shares in the company, valued at $5,424,880. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,994 shares of company stock valued at $731,702. Corporate insiders own 4.20% of the company's stock.

ScanSource Stock Up 0.7 %

SCSC traded up $0.25 on Wednesday, reaching $36.17. The company's stock had a trading volume of 606,394 shares, compared to its average volume of 233,028. The stock has a market cap of $848.69 million, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The business's 50 day moving average is $33.84 and its 200 day moving average is $42.24. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $53.90.

Wall Street Analyst Weigh In

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

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.