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

ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 1,540,000 shares, a decline of 17.2% from the April 30th total of 1,860,000 shares. Based on an average daily volume of 278,700 shares, the days-to-cover ratio is currently 5.5 days. Approximately 7.4% of the company's stock are short sold.

Insiders Place Their Bets

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of ScanSource stock in a transaction on Friday, March 21st. The shares were 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. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its position in ScanSource by 948.7% during the fourth quarter. Quarry LP now owns 797 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 721 shares during the period. Versant Capital Management Inc lifted its position in ScanSource by 88.4% during the first 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 during the period. New Age Alpha Advisors LLC acquired a new position in shares of ScanSource in the fourth quarter worth about $64,000. Point72 Asset Management L.P. acquired a new position in shares of ScanSource in the fourth quarter worth about $81,000. Finally, GAMMA Investing LLC raised its position in shares of ScanSource by 25.5% in the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock worth $66,000 after acquiring an additional 395 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ScanSource Stock Performance

Shares of NASDAQ:SCSC traded up $0.07 on Friday, hitting $41.50. 168,031 shares of the company were exchanged, compared to its average volume of 232,790. The firm has a market capitalization of $937.73 million, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.14 and a beta of 1.38. The stock's 50 day moving average price is $35.86 and its 200 day moving average price is $41.19. ScanSource has a 1-year low of $28.75 and a 1-year high of $53.90. 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 (NASDAQ:SCSC - Get Free Report) last posted its earnings results on Thursday, May 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The company had revenue of $704.23 million during the quarter, compared to the consensus estimate of $809.17 million. ScanSource had a net margin of 2.08% and a return on equity of 8.55%. The firm's quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Sell-side analysts predict that ScanSource will post 3.33 EPS for the current year.

ScanSource Company 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.