Picton Mahoney Asset Management Acquires 9,307 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Picton Mahoney Asset Management boosted its holdings in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 414.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,553 shares of the industrial products company's stock after buying an additional 9,307 shares during the period. Picton Mahoney Asset Management's holdings in ScanSource were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Castlekeep Investment Advisors LLC bought a new position in shares of ScanSource in the fourth quarter worth $78,694,000. Pzena Investment Management LLC boosted its stake in ScanSource by 132.8% in the 1st quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company's stock worth $32,040,000 after purchasing an additional 537,358 shares during the period. Invesco Ltd. grew its holdings in ScanSource by 2.4% during the 4th quarter. Invesco Ltd. now owns 618,099 shares of the industrial products company's stock valued at $29,329,000 after buying an additional 14,669 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of ScanSource by 15.6% during the fourth quarter. JPMorgan Chase & Co. now owns 436,007 shares of the industrial products company's stock valued at $20,689,000 after buying an additional 58,927 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of ScanSource by 1.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 366,156 shares of the industrial products company's stock worth $17,374,000 after buying an additional 6,592 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

Insider Activity at ScanSource

In other news, EVP Rachel Hayden sold 6,738 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $41.27, for a total transaction of $278,077.26. Following the completion of the sale, the executive vice president owned 13,174 shares of the company's stock, valued at approximately $543,690.98. This represents a 33.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.20% of the company's stock.

Analyst Ratings Changes

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

ScanSource Price Performance

Shares of SCSC traded down $1.06 during midday trading on Friday, reaching $37.78. The stock had a trading volume of 287,999 shares, compared to its average volume of 237,734. The company has a current ratio of 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $853.83 million, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.09 and a beta of 1.38. The company's 50-day moving average is $41.20 and its 200 day moving average is $38.91. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90.

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

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.