Hsbc Holdings PLC Makes New $343,000 Investment in ScanSource, Inc. (NASDAQ:SCSC)

Hsbc Holdings PLC purchased a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,218 shares of the industrial products company’s stock, valued at approximately $343,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new stake in ScanSource during the 4th quarter worth approximately $64,000. Picton Mahoney Asset Management increased its position in shares of ScanSource by 50.9% during the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 758 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in ScanSource in the fourth quarter valued at $126,000. Tower Research Capital LLC TRC grew its stake in ScanSource by 42.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 848 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in ScanSource during the 4th quarter worth about $204,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ScanSource

In related news, CEO Michael L. Baur sold 1,994 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $38.00, for a total transaction of $75,772.00. Following the transaction, the chief executive officer now owns 142,760 shares of the company’s stock, valued at $5,424,880. This trade represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephen Jones sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the transaction, the chief financial officer now owns 69,816 shares in the company, valued at $2,523,150.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

ScanSource Trading Up 6.3 %

NASDAQ:SCSC opened at $38.39 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 has a market cap of $900.78 million, a P/E ratio of 15.17, a P/E/G ratio of 1.14 and a beta of 1.30. The stock has a 50-day simple moving average of $33.88 and a 200-day simple moving average of $42.18.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $704.23 million during the quarter, compared to the consensus estimate of $809.17 million. ScanSource had a net margin of 2.08% and a return on equity of 8.55%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. As a group, analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Northcoast Research upgraded shares of ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Tuesday.

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.