ScanSource, Inc. $SCSC Shares Sold by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management reduced its holdings in ScanSource, Inc. by 36.1%, selling 7,237 shares and holding approximately 0.06% of the company, valued at $534,000.
• ScanSource reported an EPS of $1.02 for the last quarter, surpassing analysts' expectations of $0.91, alongside an 8.9% increase in revenue year-over-year.
• Insider trades included CEO Michael L. Baur selling 102,031 shares worth over $4.5 million, representing a 30.96% decrease in his ownership of the stock.

Ritholtz Wealth Management decreased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 36.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,784 shares of the industrial products company's stock after selling 7,237 shares during the quarter. Ritholtz Wealth Management owned about 0.06% of ScanSource worth $534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCSC. Jones Financial Companies Lllp acquired a new position in ScanSource during the first quarter worth about $22,848,000. Pzena Investment Management LLC boosted its holdings in shares of ScanSource by 132.8% during 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 last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of ScanSource by 61.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 336,456 shares of the industrial products company's stock valued at $11,443,000 after purchasing an additional 127,780 shares in the last quarter. Jane Street Group LLC grew its position in shares of ScanSource by 148.3% in the first quarter. Jane Street Group LLC now owns 199,799 shares of the industrial products company's stock valued at $6,795,000 after purchasing an additional 119,317 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of ScanSource by 20.1% in the first quarter. LSV Asset Management now owns 503,185 shares of the industrial products company's stock valued at $17,113,000 after purchasing an additional 84,300 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Stock Performance

NASDAQ:SCSC opened at $41.59 on Monday. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 2.01. The company has a 50 day moving average price of $43.45 and a 200 day moving average price of $40.20. The stock has a market capitalization of $910.41 million, a P/E ratio of 13.82, a PEG ratio of 0.70 and a beta of 1.36.

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

Insider Transactions at ScanSource

In related news, CEO Michael L. Baur sold 102,031 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $44.96, for a total transaction of $4,587,313.76. Following the completion of the transaction, the chief executive officer directly owned 227,512 shares in the company, valued at $10,228,939.52. This trade represents a 30.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rachel Hayden sold 1,080 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $44.69, for a total transaction of $48,265.20. Following the sale, the executive vice president owned 11,688 shares in the company, valued at $522,336.72. This trade represents a 8.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,677 shares of company stock valued at $6,876,030 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SCSC. Weiss Ratings restated a "hold (c+)" rating on shares of ScanSource in a report on Wednesday, October 8th. Barclays started coverage on shares of ScanSource in a report on Tuesday, October 7th. They issued an "equal weight" rating and a $43.00 price objective for the company. Zacks Research upgraded shares of ScanSource from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Finally, Wall Street Zen lowered shares of ScanSource from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.

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.

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