ScanSource, Inc. (NASDAQ:SCSC) Sees Significant Growth in Short Interest

ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 835,400 shares, an increase of 50.0% from the March 31st total of 556,800 shares. Based on an average trading volume of 216,600 shares, the days-to-cover ratio is presently 3.9 days. Approximately 3.4% of the company's stock are sold short.

Institutional Trading of ScanSource

A number of hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its stake in ScanSource by 67.9% in the first quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company's stock worth $46,501,000 after acquiring an additional 426,945 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in ScanSource by 2,564.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,514 shares of the industrial products company's stock worth $331,000 after purchasing an additional 7,232 shares in the last quarter. Sollinda Capital Management LLC bought a new position in ScanSource in the fourth quarter worth about $277,000. Campbell & CO Investment Adviser LLC raised its holdings in ScanSource by 0.9% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 44,389 shares of the industrial products company's stock worth $1,758,000 after purchasing an additional 415 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new position in ScanSource in the fourth quarter worth about $1,419,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Stock Up 0.2 %

NASDAQ:SCSC traded up $0.07 during mid-day trading on Friday, reaching $41.97. The company's stock had a trading volume of 101,408 shares, compared to its average volume of 201,402. ScanSource has a 1 year low of $26.14 and a 1 year high of $45.10. The stock has a fifty day moving average of $42.35 and a 200-day moving average of $38.15. The firm has a market capitalization of $1.06 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.17.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.14). ScanSource had a return on equity of 9.18% and a net margin of 2.45%. The business had revenue of $884.79 million during the quarter, compared to analysts' expectations of $943.10 million. During the same period last year, the company earned $1.06 earnings per share. The firm's revenue was down 12.5% compared to the same quarter last year. Equities research analysts forecast that ScanSource will post 3.39 earnings per share for the current year.

ScanSource Company Profile

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.