Jefferies Financial Group Inc. Makes New Investment in ScanSource, Inc. (NASDAQ:SCSC)

Key Points

• Jefferies Financial Group Inc. has invested approximately $326,000 in ScanSource, Inc. by acquiring 9,575 shares during the first quarter.
• Institutional investors hold 97.91% of ScanSource's stock, indicating significant interest and investment in the company.
• ScanSource recently reported earnings per share of $0.86, exceeding analysts' expectations, although its quarterly revenue fell by 6.3% compared to the previous year.

Jefferies Financial Group Inc. bought a new position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,575 shares of the industrial products company's stock, valued at approximately $326,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in ScanSource in the fourth quarter valued at $78,694,000. Pzena Investment Management LLC boosted its holdings in ScanSource by 132.8% in the first quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company's stock valued at $32,040,000 after purchasing an additional 537,358 shares during the last quarter. Invesco Ltd. boosted its holdings in ScanSource by 2.4% in the fourth quarter. Invesco Ltd. now owns 618,099 shares of the industrial products company's stock valued at $29,329,000 after purchasing an additional 14,669 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in ScanSource by 15.6% in the fourth quarter. JPMorgan Chase & Co. now owns 436,007 shares of the industrial products company's stock valued at $20,689,000 after purchasing an additional 58,927 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in ScanSource by 1.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 366,156 shares of the industrial products company's stock valued at $17,374,000 after purchasing an additional 6,592 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SCSC shares. Northcoast Research raised shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a report on Tuesday, May 6th. Wall Street Zen raised shares of ScanSource from a "hold" rating to a "buy" rating in a report on Saturday, July 12th.

Insider Buying and Selling at ScanSource

In other ScanSource news, EVP Rachel Hayden sold 6,738 shares of the company's stock in a transaction dated Friday, June 20th. The shares were 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 approximately $543,690.98. This represents a 33.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.20% of the company's stock.

ScanSource Price Performance

Shares of ScanSource stock traded up $1.67 during trading hours on Tuesday, reaching $43.23. The stock had a trading volume of 49,725 shares, compared to its average volume of 236,897. The stock's 50 day moving average is $41.12 and its 200 day moving average is $38.21. The firm has a market capitalization of $977.00 million, a PE ratio of 15.60, a PEG ratio of 1.12 and a beta of 1.41. 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 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14.

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.