Castlekeep Investment Advisors LLC Purchases Shares of 34,536 ScanSource, Inc. (NASDAQ:SCSC)

Castlekeep Investment Advisors LLC acquired a new stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,536 shares of the industrial products company's stock, valued at approximately $1,639,000. Castlekeep Investment Advisors LLC owned 0.15% of ScanSource at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Sanctuary Advisors LLC boosted its position in shares of ScanSource by 3.5% in the 4th quarter. Sanctuary Advisors LLC now owns 10,103 shares of the industrial products company's stock worth $479,000 after purchasing an additional 338 shares during the last quarter. Brandywine Global Investment Management LLC grew its position in shares of ScanSource by 0.7% during the 4th quarter. Brandywine Global Investment Management LLC now owns 80,908 shares of the industrial products company's stock worth $3,839,000 after buying an additional 538 shares during the period. Sterling Capital Management LLC raised its position in shares of ScanSource by 7.3% in the 4th quarter. Sterling Capital Management LLC now owns 9,782 shares of the industrial products company's stock valued at $464,000 after acquiring an additional 665 shares during the period. Quarry LP raised its position in shares of ScanSource by 948.7% in the 4th quarter. Quarry LP now owns 797 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 721 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in ScanSource by 5.1% during the 4th quarter. MetLife Investment Management LLC now owns 14,956 shares of the industrial products company's stock worth $710,000 after acquiring an additional 721 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Stephen Jones sold 2,000 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 69,816 shares of the company's stock, valued at approximately $2,523,150.24. This represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.20% of the stock is currently owned by company insiders.

ScanSource Stock Up 0.2%

Shares of NASDAQ SCSC traded up $0.09 during mid-day trading on Thursday, reaching $40.73. 27,537 shares of the company's stock were exchanged, compared to its average volume of 249,708. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $920.22 million, a price-to-earnings ratio of 16.10, a PEG ratio of 1.14 and a beta of 1.30. The business has a fifty day simple moving average of $35.06 and a 200 day simple moving average of $41.62.

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

Wall Street Analysts Forecast Growth

SCSC has been the subject of several recent analyst reports. Wall Street Zen raised shares of ScanSource from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Northcoast Research upgraded shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price objective for the company in a research report 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.