BNP Paribas Arbitrage SA Buys 3,604 Shares of ScanSource, Inc. (NASDAQ:SCSC)

BNP Paribas Arbitrage SA increased its stake in ScanSource, Inc. (NASDAQ:SCSC) by 34.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,961 shares of the industrial products company’s stock after purchasing an additional 3,604 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.05% of ScanSource worth $609,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pzena Investment Management LLC boosted its stake in ScanSource by 3.3% in the third quarter. Pzena Investment Management LLC now owns 1,317,928 shares of the industrial products company’s stock worth $57,528,000 after buying an additional 42,025 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of ScanSource by 1.9% during the third quarter. Prudential Financial Inc. now owns 321,379 shares of the industrial products company’s stock valued at $14,028,000 after purchasing an additional 5,950 shares during the period. IndexIQ Advisors LLC boosted its stake in shares of ScanSource by 82.9% during the third quarter. IndexIQ Advisors LLC now owns 22,083 shares of the industrial products company’s stock valued at $964,000 after purchasing an additional 10,010 shares during the period. Foundry Partners LLC boosted its stake in shares of ScanSource by 7.6% during the third quarter. Foundry Partners LLC now owns 108,170 shares of the industrial products company’s stock valued at $4,722,000 after purchasing an additional 7,651 shares during the period. Finally, Palouse Capital Management Inc. purchased a new stake in shares of ScanSource during the third quarter valued at approximately $226,000. Institutional investors own 94.35% of the company’s stock.

In related news, CEO Michael L. Baur sold 44,565 shares of ScanSource stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $44.16, for a total transaction of $1,967,990.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 13,700 shares of ScanSource stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $43.94, for a total value of $601,978.00. Following the completion of the sale, the chief executive officer now directly owns 35,209 shares in the company, valued at approximately $1,547,083.46. The disclosure for this sale can be found here. Insiders have sold a total of 81,321 shares of company stock worth $3,588,984 in the last three months. 2.35% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on the company. Zacks Investment Research lowered ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. TheStreet downgraded ScanSource from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. ValuEngine downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, BidaskClub cut ScanSource from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.75.

ScanSource, Inc. (NASDAQ:SCSC) traded up $0.10 during mid-day trading on Friday, hitting $35.80. The stock had a trading volume of 86,704 shares, compared to its average volume of 110,357. ScanSource, Inc. has a 12-month low of $33.55 and a 12-month high of $45.35. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. The stock has a market cap of $912.89, a PE ratio of 15.57, a P/E/G ratio of 3.99 and a beta of 1.03.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $924.56 million for the quarter, compared to the consensus estimate of $966.20 million. ScanSource had a net margin of 1.65% and a return on equity of 8.78%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. equities analysts forecast that ScanSource, Inc. will post 2.98 earnings per share for the current year.

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ScanSource Company Profile

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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