EMC Capital Management Sells 116,517 Shares of ScanSource, Inc. (NASDAQ:SCSC)

EMC Capital Management cut its stake in ScanSource, Inc. (NASDAQ:SCSC) by 94.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,398 shares of the industrial products company’s stock after selling 116,517 shares during the period. EMC Capital Management’s holdings in ScanSource were worth $351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of ScanSource by 18.3% in the third quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock valued at $131,828,000 after acquiring an additional 425,233 shares during the period. Millennium Management LLC raised its position in ScanSource by 2,640.7% in the 2nd quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock worth $6,038,000 after purchasing an additional 131,294 shares during the period. Wasatch Advisors LP lifted its stake in ScanSource by 13.2% in the third quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after purchasing an additional 127,883 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of ScanSource by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after buying an additional 91,069 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of ScanSource during the third quarter valued at approximately $1,674,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Price Performance

Shares of SCSC stock opened at $46.96 on Thursday. The stock has a 50 day moving average price of $50.02 and a 200 day moving average price of $48.64. ScanSource, Inc. has a 52-week low of $31.01 and a 52-week high of $53.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The firm has a market capitalization of $1.12 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.46 and a beta of 1.45.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a return on equity of 8.53% and a net margin of 2.49%. As a group, sell-side analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 29,617 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $49.20, for a total value of $1,457,156.40. Following the completion of the sale, the chief executive officer now directly owns 177,760 shares in the company, valued at approximately $8,745,792. This represents a 14.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brandy Ford sold 1,845 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the transaction, the chief accounting officer now owns 9,506 shares in the company, valued at approximately $469,406.28. This represents a 16.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,855 shares of company stock valued at $2,702,949 in the last three months. Company insiders own 4.20% of the company’s stock.

About ScanSource

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.