Mackenzie Financial Corp Acquires 19,790 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Mackenzie Financial Corp raised its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 55.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,692 shares of the industrial products company's stock after purchasing an additional 19,790 shares during the period. Mackenzie Financial Corp owned approximately 0.24% of ScanSource worth $2,643,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SCSC. Sanctuary Advisors LLC lifted its position in 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 buying an additional 338 shares during the last quarter. Brandywine Global Investment Management LLC raised its stake in shares of ScanSource by 0.7% during the fourth quarter. Brandywine Global Investment Management LLC now owns 80,908 shares of the industrial products company's stock worth $3,839,000 after acquiring an additional 538 shares in the last quarter. Sterling Capital Management LLC lifted its holdings 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 worth $464,000 after acquiring an additional 665 shares during the last quarter. Quarry LP boosted its stake 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 purchasing an additional 721 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of ScanSource by 5.1% in the 4th quarter. MetLife Investment Management LLC now owns 14,956 shares of the industrial products company's stock valued at $710,000 after purchasing an additional 721 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

Insider Buying and Selling at ScanSource

In related news, CFO Stephen Jones sold 2,000 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $36.14, for a total value 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 trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.20% of the company's stock.

ScanSource Trading Up 3.4%

SCSC stock traded up $1.35 during midday trading on Tuesday, hitting $41.37. The company had a trading volume of 173,385 shares, compared to its average volume of 232,812. The stock has a market cap of $934.80 million, a price-to-earnings ratio of 16.35, a PEG ratio of 1.14 and a beta of 1.30. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week 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 stock's 50 day moving average price is $35.42 and its 200 day moving average price is $41.30.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued 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 company 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 firm's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. As a group, equities research analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SCSC has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price objective on the stock in a report on Tuesday, May 6th.

About ScanSource

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.