Russell Investments Group Ltd. increased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,652 shares of the industrial products company’s stock after acquiring an additional 2,850 shares during the period. Russell Investments Group Ltd. owned about 0.22% of ScanSource worth $2,286,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of ScanSource during the 1st quarter valued at about $127,000. KBC Group NV bought a new position in ScanSource during the 1st quarter valued at about $184,000. Summit Trail Advisors LLC lifted its holdings in ScanSource by 2,721.3% during the 1st quarter. Summit Trail Advisors LLC now owns 199,836 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 192,753 shares during the last quarter. Palouse Capital Management Inc. bought a new position in ScanSource during the 2nd quarter valued at about $205,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in ScanSource during the 2nd quarter valued at about $218,000. Institutional investors and hedge funds own 93.95% of the company’s stock.
In other news, CEO Michael L. Baur sold 13,747 shares of ScanSource stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $604,868.00. Following the completion of the sale, the chief executive officer now owns 49,446 shares in the company, valued at approximately $2,175,624. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gerald Lyons sold 600 shares of ScanSource stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $44.00, for a total transaction of $26,400.00. Following the sale, the chief financial officer now owns 12,937 shares of the company’s stock, valued at approximately $569,228. The disclosure for this sale can be found here. Company insiders own 2.35% of the company’s stock.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, August 28th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. ScanSource had a net margin of 0.86% and a return on equity of 9.23%. The firm had revenue of $993.90 million during the quarter, compared to the consensus estimate of $974.20 million. During the same period last year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. equities research analysts expect that ScanSource, Inc. will post 3.56 EPS for the current fiscal year.
Several equities analysts recently issued reports on SCSC shares. BidaskClub downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Zacks Investment Research downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a report on Thursday, July 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $46.00.
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).
Featured Article: Book Value Per Share – BVPS
Want to see what other hedge funds are holding SCSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ScanSource, Inc. (NASDAQ:SCSC).
Receive News & Ratings for ScanSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource and related companies with MarketBeat.com's FREE daily email newsletter.