Acadian Asset Management LLC Purchases 27,707 Shares of ScanSource, Inc. $SCSC

Key Points

• Acadian Asset Management LLC increased its stake in ScanSource, Inc. by 25.3%, owning 137,359 shares valued at approximately $4.67 million.
• ScanSource has received positive analyst ratings, including a shift from "hold" to "buy" by Wall Street Zen and a "strong-buy" rating from Zacks Research.
• The company reported a Q2 EPS of $1.02, surpassing estimates, with revenue of $812.89 million reflecting an 8.9% year-over-year increase.

Acadian Asset Management LLC grew its stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 25.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,359 shares of the industrial products company's stock after purchasing an additional 27,707 shares during the period. Acadian Asset Management LLC owned about 0.61% of ScanSource worth $4,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in ScanSource by 88.4% during the 1st quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock worth $29,000 after buying an additional 405 shares during the period. GAMMA Investing LLC raised its holdings in ScanSource by 25.5% during the 1st quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock worth $66,000 after purchasing an additional 395 shares during the last quarter. Point72 Asset Management L.P. bought a new position in ScanSource during the 4th quarter worth approximately $81,000. Quarry LP raised its holdings in ScanSource by 344.3% during the 1st quarter. Quarry LP now owns 3,541 shares of the industrial products company's stock worth $120,000 after purchasing an additional 2,744 shares during the last quarter. Finally, RHS Financial LLC raised its holdings in ScanSource by 13.1% during the 1st quarter. RHS Financial LLC now owns 6,765 shares of the industrial products company's stock worth $230,000 after purchasing an additional 784 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCSC has been the subject of several analyst reports. Wall Street Zen upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Zacks Research upgraded shares of ScanSource from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Strong Buy" and a consensus target price of $42.00.

ScanSource Trading Up 0.9%

Shares of NASDAQ:SCSC traded up $0.39 during mid-day trading on Thursday, hitting $44.33. The company had a trading volume of 271,357 shares, compared to its average volume of 306,335. The firm has a fifty day moving average price of $42.36 and a 200 day moving average price of $39.07. The company has a market capitalization of $970.38 million, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.01 and a quick ratio of 1.30. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. The company had revenue of $812.89 million during the quarter, compared to analyst estimates of $776.21 million. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. ScanSource's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 EPS. ScanSource has set its FY 2026 guidance at EPS. As a group, research analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Buying and Selling

In other ScanSource news, EVP Rachel Hayden sold 752 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $43.57, for a total transaction of $32,764.64. Following the completion of the sale, the executive vice president owned 14,918 shares in the company, valued at approximately $649,977.26. The trade was a 4.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 10,415 shares of company stock worth $439,848. Insiders own 4.20% of the company's stock.

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.