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

Key Points

• Short interest jumped 20.7% in March to 918,267 shares (about 4.4% of the stock) with a days-to-cover of 3.9, indicating increased bearish positioning.
• Quarterly results missed expectations: ScanSource reported EPS of $0.80 vs. $1.00 expected and revenue of $766.5M vs. $782.5M, while analysts predict full‑year EPS of 3.33.
• Mixed insider activity: CEO Michael Baur sold 3,827 shares at $35.89 (reducing his stake 2.37%) while director Charles Mathis purchased 6,000 shares at $35.20, and insiders own 3.18% of the company.

ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 918,267 shares, an increase of 20.7% from the March 15th total of 760,995 shares. Based on an average daily volume of 234,435 shares, the days-to-cover ratio is presently 3.9 days. Currently, 4.4% of the company's stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Zacks Research upgraded ScanSource from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of ScanSource in a research note on Monday, December 29th. Finally, Wall Street Zen cut ScanSource from a "buy" rating to a "hold" rating in a research note on Saturday, January 17th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, ScanSource presently has a consensus rating of "Hold" and an average target price of $42.50.

Insider Transactions at ScanSource

In related news, CEO Michael L. Baur sold 3,827 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $35.89, for a total transaction of $137,351.03. Following the sale, the chief executive officer owned 157,512 shares of the company's stock, valued at $5,653,105.68. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Alexander Mathis acquired 6,000 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The shares were bought at an average cost of $35.20 per share, for a total transaction of $211,200.00. Following the transaction, the director owned 24,793 shares of the company's stock, valued at $872,713.60. This represents a 31.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SCSC. Amundi raised its stake in shares of ScanSource by 35.1% in the first quarter. Amundi now owns 26,464 shares of the industrial products company's stock worth $836,000 after purchasing an additional 6,880 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of ScanSource by 3.8% in the first quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company's stock worth $4,373,000 after purchasing an additional 4,693 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ScanSource by 2.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company's stock worth $471,000 after purchasing an additional 295 shares during the last quarter. Millennium Management LLC raised its stake in shares of ScanSource by 8.4% in the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company's stock worth $8,836,000 after purchasing an additional 20,086 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ScanSource by 35.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company's stock worth $2,092,000 after purchasing an additional 16,044 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Trading Up 1.0%

Shares of NASDAQ:SCSC opened at $38.58 on Friday. ScanSource has a 52-week low of $30.76 and a 52-week high of $46.25. The stock has a market cap of $828.70 million, a price-to-earnings ratio of 11.83, a PEG ratio of 0.65 and a beta of 1.25. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $36.65 and a 200-day moving average price of $39.67.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.20). ScanSource had a return on equity of 9.35% and a net margin of 2.44%.The firm had revenue of $766.51 million during the quarter, compared to analysts' expectations of $782.46 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that ScanSource will post 3.33 EPS for the current year.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.

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