ScanSource, Inc. (NASDAQ:SCSC) Short Interest Up 21.8% in January

ScanSource, Inc. (NASDAQ:SCSC) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 584,423 shares, an increase of 21.8% from the December 31st total of 479,943 shares. Based on an average daily trading volume, of 170,045 shares, the days-to-cover ratio is currently 3.4 days. Approximately 2.8% of the shares of the company are sold short. Approximately 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 170,045 shares, the days-to-cover ratio is currently 3.4 days.

Wall Street Analyst Weigh In

SCSC has been the subject of a number of analyst reports. Zacks Research downgraded shares of ScanSource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Wall Street Zen cut ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.50.

ScanSource Stock Performance

ScanSource stock opened at $44.33 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.16 and a debt-to-equity ratio of 0.14. The stock has a market cap of $972.60 million, a PE ratio of 13.81, a P/E/G ratio of 0.71 and a beta of 1.28. ScanSource has a 12-month low of $28.75 and a 12-month high of $46.25. The business’s 50-day moving average price is $41.05 and its two-hundred day moving average price is $41.82.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Thursday, November 6th. The industrial products company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. The firm had revenue of $739.65 million during the quarter, compared to analysts’ expectations of $787.37 million. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. As a group, analysts expect that ScanSource will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling at ScanSource

In other news, CFO Stephen Jones sold 5,020 shares of ScanSource stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $212,346.00. Following the completion of the sale, the chief financial officer owned 83,326 shares of the company’s stock, valued at approximately $3,524,689.80. This trade represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael L. Baur sold 9,559 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $40.82, for a total transaction of $390,198.38. Following the completion of the transaction, the chief executive officer owned 191,971 shares in the company, valued at $7,836,256.22. This trade represents a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,020 shares of company stock worth $1,035,669 in the last quarter. Company insiders own 3.18% of the company’s stock.

Institutional Investors Weigh In On ScanSource

Hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its stake in shares of ScanSource by 4.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 5,454 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 250 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in ScanSource by 2.6% during the second quarter. Nisa Investment Advisors LLC now owns 10,145 shares of the industrial products company’s stock worth $424,000 after purchasing an additional 259 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ScanSource by 2.2% in the 1st 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 in the last quarter. State of Alaska Department of Revenue grew its position in ScanSource by 3.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,357 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 395 shares in the last quarter. Finally, Bailard Inc. increased its stake in ScanSource by 6.8% in the 3rd quarter. Bailard Inc. now owns 6,300 shares of the industrial products company’s stock valued at $277,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.