XTX Topco Ltd Purchases New Position 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 purchased a new position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,832 shares of the industrial products company's stock, valued at approximately $334,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its position in ScanSource by 247.4% during the 1st quarter. GSA Capital Partners LLP now owns 24,517 shares of the industrial products company's stock worth $834,000 after buying an additional 17,460 shares in the last quarter. Picton Mahoney Asset Management lifted its position in ScanSource by 414.4% during the 1st quarter. Picton Mahoney Asset Management now owns 11,553 shares of the industrial products company's stock worth $392,000 after buying an additional 9,307 shares in the last quarter. Mackenzie Financial Corp lifted its position in ScanSource by 1.7% during the 1st quarter. Mackenzie Financial Corp now owns 56,642 shares of the industrial products company's stock worth $1,926,000 after buying an additional 950 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ScanSource by 27.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,973 shares of the industrial products company's stock worth $237,000 after buying an additional 1,500 shares in the last quarter. Finally, Royce & Associates LP lifted its position in ScanSource by 7.3% during the 1st quarter. Royce & Associates LP now owns 24,037 shares of the industrial products company's stock worth $817,000 after buying an additional 1,631 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

ScanSource Stock Performance

Shares of SCSC stock traded down $1.47 on Thursday, reaching $43.81. The stock had a trading volume of 87,456 shares, compared to its average volume of 237,608. The company has a quick ratio of 1.32, a current ratio of 2.07 and a debt-to-equity ratio of 0.14. The firm's 50-day moving average is $41.24 and its two-hundred day moving average is $38.29. The firm has a market capitalization of $989.99 million, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.18 and a beta of 1.41. ScanSource, Inc. has a 12 month low of $28.75 and a 12 month high of $53.90.

Analyst Upgrades and Downgrades

Several brokerages have commented on SCSC. Wall Street Zen raised shares of ScanSource from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Northcoast Research raised shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price on the stock in a report on Tuesday, May 6th.

Insider Activity

In other news, EVP Rachel Hayden sold 6,738 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $41.27, for a total value of $278,077.26. Following the sale, the executive vice president directly owned 13,174 shares of the company's stock, valued at approximately $543,690.98. This represents a 33.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company's stock.

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.