ScanSource, Inc. (NASDAQ:SCSC) Short Interest Down 15.9% in December

ScanSource, Inc. (NASDAQ:SCSC) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 1,740,000 shares, a decline of 15.9% from the December 15th total of 2,070,000 shares. Based on an average daily trading volume, of 202,100 shares, the short-interest ratio is presently 8.6 days. Approximately 8.0% of the shares of the stock are short sold.

ScanSource Price Performance

NASDAQ SCSC traded up $0.39 on Thursday, hitting $50.04. 203,506 shares of the company were exchanged, compared to its average volume of 156,661. ScanSource has a 1-year low of $31.01 and a 1-year high of $53.90. The firm has a 50 day moving average of $49.88 and a two-hundred day moving average of $48.13. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.19 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.35 and a beta of 1.45.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The business had revenue of $775.58 million for the quarter, compared to analysts’ expectations of $774.90 million. During the same period in the prior year, the firm earned $0.74 earnings per share. ScanSource’s revenue was down 11.5% compared to the same quarter last year. On average, equities analysts predict that ScanSource will post 3.51 EPS for the current year.

Insider Buying and Selling at ScanSource

In other news, CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the completion of the transaction, the chief accounting officer now owns 9,506 shares in the company, valued at approximately $469,406.28. The trade was a 16.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael L. Baur sold 15,081 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $49.57, for a total value of $747,565.17. Following the sale, the chief executive officer now owns 177,760 shares in the company, valued at approximately $8,811,563.20. This trade represents a 7.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,855 shares of company stock worth $2,702,949 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On ScanSource

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in ScanSource during the 3rd quarter worth about $30,000. Point72 DIFC Ltd acquired a new stake in shares of ScanSource during the 3rd quarter worth approximately $35,000. Quest Partners LLC bought a new stake in shares of ScanSource during the second quarter worth approximately $41,000. KBC Group NV lifted its holdings in ScanSource by 59.9% in the third quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock valued at $57,000 after buying an additional 443 shares during the period. Finally, Systematic Financial Management LP bought a new position in ScanSource in the third quarter valued at approximately $205,000. 97.91% of the stock is owned by institutional investors and hedge funds.

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.