ExodusPoint Capital Management LP Cuts Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

ExodusPoint Capital Management LP lessened its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 40.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,765 shares of the industrial products company’s stock after selling 16,356 shares during the quarter. ExodusPoint Capital Management LP’s holdings in ScanSource were worth $1,128,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in ScanSource by 26.0% in the third quarter. The Manufacturers Life Insurance Company now owns 11,899 shares of the industrial products company’s stock valued at $572,000 after acquiring an additional 2,459 shares in the last quarter. Jane Street Group LLC grew its holdings in ScanSource by 6.2% during the 3rd quarter. Jane Street Group LLC now owns 56,980 shares of the industrial products company’s stock valued at $2,737,000 after purchasing an additional 3,307 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in ScanSource by 42.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,047 shares of the industrial products company’s stock worth $771,000 after buying an additional 4,780 shares during the period. Barclays PLC lifted its holdings in ScanSource by 97.9% in the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock worth $2,610,000 after buying an additional 26,881 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in ScanSource in the 3rd quarter valued at about $499,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $38.91, for a total transaction of $583,650.00. Following the transaction, the chief executive officer now owns 162,760 shares of the company’s stock, valued at approximately $6,332,991.60. This trade represents a 8.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Jones sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $36.14, for a total transaction of $72,280.00. Following the transaction, the chief financial officer now directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,994 shares of company stock worth $731,702 in the last ninety days. 4.20% of the stock is owned by insiders.

ScanSource Stock Down 3.5 %

Shares of NASDAQ SCSC opened at $31.03 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $53.90. The stock’s 50-day simple moving average is $35.71 and its 200-day simple moving average is $44.20. The firm has a market cap of $728.09 million, a price-to-earnings ratio of 12.26, a PEG ratio of 1.14 and a beta of 1.34.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a return on equity of 8.55% and a net margin of 2.08%. During the same period in the previous year, the company earned $0.85 EPS. As a group, equities analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

ScanSource Profile

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.