XTX Topco Ltd Makes New $334,000 Investment in ScanSource, Inc. (NASDAQ:SCSC)

Key Points

• XTX Topco Ltd has acquired a new stake in ScanSource, Inc., purchasing 9,832 shares valued at approximately $334,000 in the first quarter.
• Significant stakes in ScanSource have shifted among institutional investors, with Quarry LP increasing its stake by 948.7% during the fourth quarter.
• ScanSource recently reported earnings per share of $0.86, exceeding expectations and reflecting a 6.3% year-over-year revenue decline.

XTX Topco Ltd bought a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 9,832 shares of the industrial products company's stock, valued at approximately $334,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in ScanSource by 88.4% in the 1st quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. Quarry LP increased its position in shares of ScanSource by 948.7% during the 4th quarter. Quarry LP now owns 797 shares of the industrial products company's stock worth $38,000 after purchasing an additional 721 shares during the last quarter. GAMMA Investing LLC grew its position in ScanSource by 25.5% in the 1st quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock valued at $66,000 after acquiring an additional 395 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in ScanSource in the 4th quarter valued at about $81,000. Finally, Tower Research Capital LLC TRC grew its position in ScanSource by 42.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company's stock valued at $136,000 after acquiring an additional 848 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

ScanSource Stock Up 4.3%

SCSC stock traded up $1.85 during trading on Wednesday, hitting $45.27. 277,681 shares of the company's stock were exchanged, compared to its average volume of 237,723. The business has a 50-day moving average price of $41.16 and a two-hundred day moving average price of $38.24. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.13 and a beta of 1.41. 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 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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

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.