GSA Capital Partners LLP Boosts Position in ScanSource, Inc. (NASDAQ:SCSC)

Key Points

• GSA Capital Partners LLP increased its stake in ScanSource, Inc. by 247.4% during the first quarter, owning approximately 0.10% of the company with a stake valued at $834,000.
• ScanSource's stock has experienced fluctuations, with a 52-week range between $28.75 and $53.90, and closed at $37.78 following a trading volume of 287,999 shares.
• The company reported an earnings per share (EPS) of $0.86, surpassing analyst estimates of $0.77, although revenue of $704.23 million fell short of the consensus estimate of $809.17 million.

GSA Capital Partners LLP raised its holdings in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 247.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,517 shares of the industrial products company's stock after acquiring an additional 17,460 shares during the period. GSA Capital Partners LLP owned about 0.10% of ScanSource worth $834,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Quarry LP lifted its stake in shares of ScanSource by 948.7% in the fourth 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. Versant Capital Management Inc lifted its stake in shares of 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 during the period. New Age Alpha Advisors LLC acquired a new position in shares of ScanSource in the fourth quarter worth approximately $64,000. Point72 Asset Management L.P. acquired a new position in shares of ScanSource in the fourth quarter worth approximately $81,000. Finally, GAMMA Investing LLC lifted its stake in shares of 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 during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ScanSource

In other ScanSource news, EVP Rachel Hayden sold 6,738 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $41.27, for a total value of $278,077.26. Following the completion of the transaction, the executive vice president owned 13,174 shares in the company, valued at $543,690.98. This trade represents a 33.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.20% of the company's stock.

ScanSource Stock Performance

SCSC stock traded down $0.03 during midday trading on Tuesday, hitting $38.70. The company's stock had a trading volume of 57,123 shares, compared to its average volume of 236,362. The stock's 50-day moving average price is $41.16 and its 200 day moving average price is $38.59. The company has a quick ratio of 1.32, a current ratio of 2.07 and a debt-to-equity ratio of 0.14. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $53.90. The stock has a market cap of $874.35 million, a price-to-earnings ratio of 13.97, a PEG ratio of 1.03 and a beta of 1.41.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The industrial products company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The company had revenue of $704.23 million during the quarter, compared to the consensus estimate of $809.17 million. ScanSource had a return on equity of 8.96% and a net margin of 2.27%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SCSC. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a research note on Tuesday, May 6th. Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th.

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.