Magnetar Financial LLC invested $292,000 in ScanSource, Inc. (NASDAQ:SCSC)

Magnetar Financial LLC acquired a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,589 shares of the industrial products company’s stock, valued at approximately $292,000.

Several other institutional investors have also recently bought and sold shares of SCSC. CWM LLC boosted its position in ScanSource by 164.1% in the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 402 shares during the last quarter. nVerses Capital LLC bought a new stake in ScanSource in the second quarter valued at approximately $40,000. Quest Partners LLC bought a new stake in ScanSource in the second quarter valued at approximately $41,000. Inçalta Capital LLC bought a new position in ScanSource in the second quarter valued at approximately $58,000. Finally, SG Americas Securities LLC bought a new position in ScanSource in the 1st quarter worth about $128,000. 97.91% of shares are held by hedge funds and other institutional investors.

Analysts set new price targets

Separately, Raymond James downgraded shares of ScanSource from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 15th.

Read the latest research report on SCSC

Insider buying and selling

In other ScanSource news, CEO Michael L. Baur sold 7,798 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $43.81, for a total transaction of $341,630.38. Following the transaction, the chief executive officer now owns 118,080 shares in the company, valued at approximately $5,173,084.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, CEO Michael L. Baur sold 7,798 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $43.81, for a total value of $341,630.38. Following the transaction, the chief executive officer now directly owns 118,080 shares of the company’s stock, valued at $5,173,084.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, CEO Michael L. Baur sold 6,160 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $43.67, for a total value of $269,007.20. Following the completion of the sale, the chief executive officer now owns 118,080 shares in the company, valued at approximately $5,156,553.60. The disclosure for this sale can be found here. Insiders have sold 91,151 shares of company stock worth $3,914,760 over the last three months. Corporate insiders own 4.56% of the company’s shares.

ScanSource Stock Performance

Shares of SCSC stock opened at $47.58 on Thursday. ScanSource, Inc. has a 12-month low of $27.86 and a 12-month high of $53.28. The stock has a fifty day moving average price of $48.16 and a 200 day moving average price of $45.69. The company has a current ratio of 2.10, a quick ratio of 1.33, and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.18 billion, a PE ratio of 15.10, a P/E/G ratio of 1.47 and a beta of 1.41.

ScanSource (NASDAQ:SCSC – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, August 27th. The industrial products company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). ScanSource had a net margin of 2.36% and a return on equity of 8.32%. The business had revenue of $746.11 million during the quarter, compared to analysts’ expectations of $838.60 million. In the same quarter last year, the company posted earnings of $0.76 per share. The company’s quarterly revenue was down 21.2% compared to the same quarter last year. Equities research analysts predict that ScanSource, Inc. will post 3.24 earnings per share for the current fiscal year.

ScanSource Company Profile

(Free Report)

ScanSource, Inc is engaged 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 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.

See Also

Want to see what other hedge funds SCSC owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for ScanSource, Inc. (NASDAQ:SCSC – Free Report).

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