Exchange Traded Concepts LLC increased its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 33.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,773 shares of the industrial products company's stock after purchasing an additional 7,254 shares during the period. Exchange Traded Concepts LLC owned 0.12% of ScanSource worth $979,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its position in shares of ScanSource by 33.4% during the 1st quarter. Ritholtz Wealth Management now owns 20,021 shares of the industrial products company's stock valued at $681,000 after purchasing an additional 5,008 shares during the period. SummerHaven Investment Management LLC boosted its stake in ScanSource by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 18,409 shares of the industrial products company's stock valued at $626,000 after buying an additional 344 shares in the last quarter. SG Americas Securities LLC acquired a new position in ScanSource during the first quarter worth about $487,000. GAMMA Investing LLC raised its position in ScanSource by 25.5% in the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock worth $66,000 after acquiring an additional 395 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in ScanSource by 88.4% in the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock worth $29,000 after acquiring an additional 405 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.
ScanSource Price Performance
Shares of NASDAQ:SCSC traded down $0.23 on Friday, reaching $40.48. 608,516 shares of the company traded hands, compared to its average volume of 234,380. The stock has a market capitalization of $914.69 million, a PE ratio of 14.61, a P/E/G ratio of 1.17 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.07 and a quick ratio of 1.32. The company's 50 day moving average is $37.83 and its 200-day moving average is $40.50. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90.
ScanSource (NASDAQ:SCSC - Get Free Report) last announced 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 8.96% and a net margin of 2.27%. The company had revenue of $704.23 million for the quarter, compared to analyst estimates of $809.17 million. During the same period in the previous year, the firm earned $0.69 earnings per share. ScanSource's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on SCSC shares. Wall Street Zen lowered shares of ScanSource from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Northcoast Research raised shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a research note on Tuesday, May 6th.
View Our Latest Report on SCSC
About ScanSource
(
Free Report)
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.
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