ScanSource, Inc. (NASDAQ:SCSC) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 4,168.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,115 shares of the industrial products company's stock after purchasing an additional 64,566 shares during the quarter. GAMMA Investing LLC owned about 0.28% of ScanSource worth $2,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCSC. Versant Capital Management Inc increased its position in shares of ScanSource by 88.4% in the 1st quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 405 shares during the period. Quarry LP grew its stake in ScanSource by 948.7% during the 4th quarter. Quarry LP now owns 797 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 721 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of ScanSource in the fourth quarter valued at about $64,000. Point72 Asset Management L.P. purchased a new position in shares of ScanSource in the fourth quarter worth about $81,000. Finally, Picton Mahoney Asset Management raised its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

Insider Activity

In other news, CFO Stephen Jones sold 2,000 shares of the stock in a transaction dated Friday, March 21st. The shares were 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 of the company's stock, valued at $2,523,150.24. This represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on SCSC. Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price on the stock in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of ScanSource from a "buy" rating to a "hold" rating in a report on Saturday.

ScanSource Stock Performance

SCSC traded down $0.25 during midday trading on Tuesday, hitting $40.57. 169,993 shares of the company were exchanged, compared to its average volume of 233,084. The company's 50 day simple moving average is $37.28 and its 200 day simple moving average is $40.67. The firm has a market capitalization of $916.88 million, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.38. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90. The company has a current ratio of 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted 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. ScanSource had a return on equity of 8.96% and a net margin of 2.27%. The firm had revenue of $704.23 million for the quarter, compared to analyst estimates of $809.17 million. During the same period last year, the company 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, sell-side analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current year.

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.