ScanSource, Inc. (NASDAQ:SCSC) Short Interest Update

ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 556,800 shares, an increase of 30.4% from the March 15th total of 427,100 shares. Currently, 2.3% of the company's shares are sold short. Based on an average daily trading volume, of 200,500 shares, the short-interest ratio is currently 2.8 days.

Institutional Investors Weigh In On ScanSource

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of ScanSource by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,029,094 shares of the industrial products company's stock valued at $79,998,000 after purchasing an additional 115,678 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ScanSource by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,934,258 shares of the industrial products company's stock worth $76,616,000 after acquiring an additional 27,751 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in ScanSource by 4.9% in the fourth quarter. Pzena Investment Management LLC now owns 1,893,151 shares of the industrial products company's stock worth $74,988,000 after acquiring an additional 89,103 shares in the last quarter. State Street Corp boosted its holdings in ScanSource by 0.3% in the second quarter. State Street Corp now owns 997,741 shares of the industrial products company's stock worth $31,070,000 after acquiring an additional 2,549 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in ScanSource by 3.8% in the third quarter. Invesco Ltd. now owns 646,495 shares of the industrial products company's stock worth $19,595,000 after acquiring an additional 23,807 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

ScanSource Trading Down 0.5 %

Shares of ScanSource stock traded down $0.20 on Friday, hitting $40.79. 197,375 shares of the company's stock traded hands, compared to its average volume of 224,189. ScanSource has a one year low of $26.14 and a one year high of $45.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.30 and a quick ratio of 1.36. The company has a fifty day moving average of $42.00 and a two-hundred day moving average of $37.41. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.14). ScanSource had a net margin of 2.45% and a return on equity of 9.18%. The business had revenue of $884.79 million for the quarter, compared to the consensus estimate of $943.10 million. During the same quarter in the previous year, the company earned $1.06 EPS. The firm's revenue for the quarter was down 12.5% on a year-over-year basis. As a group, sell-side analysts expect that ScanSource will post 3.39 earnings per share for the current year.

Analyst Ratings Changes

SCSC has been the subject of several recent research reports. Northcoast Research cut ScanSource from a "buy" rating to a "neutral" rating and set a $36.00 price target for the company. in a research note on Tuesday, December 19th. StockNews.com cut ScanSource from a "buy" rating to a "hold" rating in a research note on Wednesday, December 20th.

About ScanSource

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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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