ScanSource, Inc. (NASDAQ:SCSC) Shares Sold by Engineers Gate Manager LP


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Engineers Gate Manager LP lessened its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 47.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,998 shares of the industrial products company’s stock after selling 10,624 shares during the quarter. Engineers Gate Manager LP’s holdings in ScanSource were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its stake in ScanSource by 2.0% during the 4th quarter. BlackRock Inc. now owns 4,633,428 shares of the industrial products company’s stock valued at $122,231,000 after purchasing an additional 89,758 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of ScanSource by 5.6% in the 4th quarter. Pzena Investment Management LLC now owns 1,714,280 shares of the industrial products company’s stock worth $45,223,000 after acquiring an additional 91,120 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of ScanSource by 11.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,667,753 shares of the industrial products company’s stock worth $43,995,000 after acquiring an additional 169,878 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of ScanSource by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 476,685 shares of the industrial products company’s stock worth $12,575,000 after acquiring an additional 24,882 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP grew its position in shares of ScanSource by 10.7% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 310,629 shares of the industrial products company’s stock worth $8,194,000 after acquiring an additional 29,951 shares in the last quarter. Hedge funds and other institutional investors own 93.38% of the company’s stock.

NASDAQ:SCSC opened at $29.86 on Thursday. ScanSource, Inc. has a 12-month low of $18.25 and a 12-month high of $34.10. The firm has a market capitalization of $760.00 million, a P/E ratio of -3.50 and a beta of 1.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 0.99. The business has a 50 day simple moving average of $30.49 and a 200 day simple moving average of $26.14.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Tuesday, February 2nd. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.12. ScanSource had a positive return on equity of 5.58% and a negative net margin of 6.63%. The business had revenue of $810.90 million during the quarter, compared to analyst estimates of $770.65 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts anticipate that ScanSource, Inc. will post 1.88 EPS for the current fiscal year.

SCSC has been the subject of several research reports. Zacks Investment Research lowered ScanSource from a “buy” rating to a “hold” rating in a research report on Wednesday. Raymond James boosted their price objective on ScanSource from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, February 3rd.

About ScanSource

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. It operates in two segments, Worldwide Barcode, Networking & Security; and Worldwide Communications & Services. The Worldwide Barcode, Networking & Security segment offers 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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Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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