SG Americas Securities LLC Acquires 274,091 Shares of ScanSource, Inc. $SCSC

SG Americas Securities LLC lifted its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 2,835.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 283,756 shares of the industrial products company’s stock after purchasing an additional 274,091 shares during the quarter. SG Americas Securities LLC owned approximately 1.29% of ScanSource worth $11,084,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Amundi boosted its holdings in 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 in the last quarter. AQR Capital Management LLC raised its holdings in ScanSource by 3.8% during the first quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock valued at $4,373,000 after buying an additional 4,693 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ScanSource by 2.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock valued at $471,000 after buying an additional 295 shares in the last quarter. Millennium Management LLC lifted its position 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 buying an additional 20,086 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of ScanSource by 35.3% during the 1st 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 acquiring an additional 16,044 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SCSC. Weiss Ratings reissued a “hold (c)” rating on shares of ScanSource in a report on Monday, December 29th. Wall Street Zen lowered ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Zacks Research cut ScanSource from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.50.

Insider Buying and Selling

In other news, CEO Michael L. Baur sold 3,827 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $35.89, for a total value of $137,351.03. Following the completion of the sale, the chief executive officer directly owned 157,512 shares of the company’s stock, valued at approximately $5,653,105.68. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Alexander Mathis acquired 6,000 shares of ScanSource stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average cost of $35.20 per share, with a total value of $211,200.00. Following the completion of the transaction, the director directly owned 24,793 shares of the company’s stock, valued at $872,713.60. This trade represents a 31.93% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.18% of the company’s stock.

ScanSource Price Performance

SCSC stock opened at $36.05 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.96 and a quick ratio of 1.22. ScanSource, Inc. has a 52-week low of $28.75 and a 52-week high of $46.25. The company has a 50-day moving average of $37.80 and a two-hundred day moving average of $40.29. The stock has a market capitalization of $774.35 million, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.61 and a beta of 1.29.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). ScanSource had a return on equity of 9.35% and a net margin of 2.44%.The business had revenue of $766.51 million during the quarter, compared to the consensus estimate of $782.46 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current year.

ScanSource Profile

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.