GAMMA Investing LLC Acquires 64,566 Shares of ScanSource, Inc. (NASDAQ:SCSC)

GAMMA Investing LLC grew its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 4,168.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,115 shares of the industrial products company’s stock after acquiring an additional 64,566 shares during the quarter. GAMMA Investing LLC owned 0.28% of ScanSource worth $2,249,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SCSC. Versant Capital Management Inc increased its holdings in shares of ScanSource by 88.4% in the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 405 shares in the last quarter. Quarry LP increased its holdings in shares of ScanSource by 948.7% in the fourth quarter. Quarry LP now owns 797 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 721 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of ScanSource in the fourth quarter worth about $64,000. Point72 Asset Management L.P. bought a new stake in shares of ScanSource in the fourth quarter worth about $81,000. Finally, Picton Mahoney Asset Management increased its holdings in shares of ScanSource by 50.9% in the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 758 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

ScanSource Stock Down 2.2%

SCSC stock opened at $40.44 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The stock has a market capitalization of $913.78 million, a P/E ratio of 15.98, a P/E/G ratio of 1.14 and a beta of 1.38. The business has a 50-day moving average of $36.89 and a 200-day moving average of $40.87. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The company had revenue of $704.23 million during the quarter, compared to analysts’ expectations of $809.17 million. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. ScanSource’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, sell-side analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

SCSC has been the subject of several recent analyst reports. Northcoast Research upgraded ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, May 6th. Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Saturday.

Insider Buying and Selling at ScanSource

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the completion of the transaction, the chief financial officer now directly owns 69,816 shares in the company, valued at $2,523,150.24. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.20% of the company’s stock.

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.