Jane Street Group LLC Has $3.82 Million Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Jane Street Group LLC boosted its stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 41.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,482 shares of the industrial products company's stock after buying an additional 23,502 shares during the period. Jane Street Group LLC owned 0.34% of ScanSource worth $3,819,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of ScanSource in the 4th quarter worth about $5,687,000. American Century Companies Inc. grew its position in ScanSource by 13.1% in the 4th quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company's stock worth $36,030,000 after purchasing an additional 87,721 shares during the last quarter. Norges Bank bought a new position in ScanSource in the 4th quarter worth about $4,137,000. First Trust Advisors LP acquired a new stake in shares of ScanSource in the fourth quarter valued at approximately $3,454,000. Finally, Victory Capital Management Inc. raised its holdings in shares of ScanSource by 142.2% during the fourth quarter. Victory Capital Management Inc. now owns 119,599 shares of the industrial products company's stock valued at $5,675,000 after buying an additional 70,228 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SCSC shares. StockNews.com raised ScanSource from a "hold" rating to a "buy" rating in a report on Monday. Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target for the company in a research report on Tuesday, May 6th.

ScanSource Trading Down 0.3%

Shares of SCSC traded down $0.14 during midday trading on Friday, hitting $40.65. The stock had a trading volume of 28,122 shares, compared to its average volume of 233,052. The business has a 50-day simple moving average of $34.35 and a two-hundred day simple moving average of $42.01. The firm has a market cap of $918.41 million, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. The firm had revenue of $704.23 million during the quarter, compared to the consensus estimate of $809.17 million. During the same period in the prior year, the business earned $0.69 EPS. The business's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Stephen Jones sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the transaction, the chief financial officer now directly owns 69,816 shares of the company's stock, valued at approximately $2,523,150.24. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company 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.