WINTON GROUP Ltd Has $1.12 Million Stock Position in ScanSource, Inc. $SCSC

Key Points

• WINTON GROUP decreased its stake by 55.3% in ScanSource in Q3, ending the period with 25,510 shares worth $1.12 million (about 0.12% of the company) after selling 31,505 shares.
• Notable insider activity: Director Charles Alexander Mathis bought 6,000 shares at $35.20 (now owns 24,793 shares) while CEO Michael L. Baur sold 9,459 shares at $41.42; insiders currently own about 3.18% of the stock.
• ScanSource missed quarterly expectations (EPS $0.80 vs. $1.00 expected; revenue $766.5M vs. $782.5M expected), and analysts hold an average "Hold" rating with a $42.50 consensus target amid recent downgrades.

WINTON GROUP Ltd decreased its stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 55.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,510 shares of the industrial products company's stock after selling 31,505 shares during the period. WINTON GROUP Ltd owned approximately 0.12% of ScanSource worth $1,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCSC. Amundi lifted its holdings in ScanSource by 35.1% during the 1st quarter. Amundi now owns 26,464 shares of the industrial products company's stock valued at $836,000 after purchasing an additional 6,880 shares during the last quarter. AQR Capital Management LLC boosted its stake in ScanSource by 3.8% in the first quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company's stock valued at $4,373,000 after buying an additional 4,693 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ScanSource by 2.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company's stock valued at $471,000 after acquiring an additional 295 shares during the last quarter. Millennium Management LLC raised its holdings in ScanSource by 8.4% in the 1st quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company's stock valued at $8,836,000 after buying an additional 20,086 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in ScanSource by 35.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company's stock worth $2,092,000 after buying an additional 16,044 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Zacks Research downgraded shares of ScanSource from a "hold" rating to a "strong sell" rating in a research report on Monday, February 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of ScanSource in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded ScanSource from a "buy" rating to a "hold" rating in a research report on Saturday, January 17th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, ScanSource presently has an average rating of "Hold" and a consensus target price of $42.50.

Insider Buying and Selling at ScanSource

In related news, Director Charles Alexander Mathis purchased 6,000 shares of ScanSource stock in a transaction dated Wednesday, February 11th. The stock was purchased at an average cost of $35.20 per share, for a total transaction of $211,200.00. Following the completion of the purchase, the director directly owned 24,793 shares of the company's stock, valued at $872,713.60. The trade was a 31.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 9,459 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $41.42, for a total transaction of $391,791.78. Following the transaction, the chief executive officer owned 182,512 shares in the company, valued at approximately $7,559,647.04. This trade represents a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,000 shares of company stock worth $823,323 over the last ninety days. 3.18% of the stock is currently owned by insiders.

ScanSource Price Performance

ScanSource stock opened at $36.17 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $38.92 and a 200 day simple moving average of $41.01. The stock has a market cap of $776.93 million, a price-to-earnings ratio of 11.10, a PEG ratio of 0.61 and a beta of 1.29. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $46.25.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.20). ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The firm had revenue of $766.51 million for the quarter, compared to analysts' expectations of $782.46 million. During the same period in the prior year, the business posted $0.85 earnings per share. The business's quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

ScanSource Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.

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