Peregrine Capital Management LLC Sells 3,412 Shares of ScanSource, Inc. $SCSC

by · The Cerbat Gem

Peregrine Capital Management LLC reduced its position in ScanSource, Inc. (NASDAQ:SCSC – Free Report) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,149 shares of the industrial products company’s stock after selling 3,412 shares during the quarter. Peregrine Capital Management LLC owned 0.46% of ScanSource worth $4,313,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of ScanSource by 2.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,145 shares of the industrial products company’s stock valued at $424,000 after purchasing an additional 259 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ScanSource by 2.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 295 shares during the last quarter. GAMMA Investing LLC increased its position in shares of ScanSource by 25.5% during the 1st quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 395 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of ScanSource by 3.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,357 shares of the industrial products company’s stock valued at $516,000 after purchasing an additional 395 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in shares of ScanSource by 2.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,852 shares of the industrial products company’s stock valued at $788,000 after purchasing an additional 443 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

Insider Activity at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 47,969 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $44.34, for a total value of $2,126,945.46. Following the completion of the sale, the chief executive officer owned 202,512 shares in the company, valued at approximately $8,979,382.08. This trade represents a 19.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rachel Hayden sold 752 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $43.57, for a total value of $32,764.64. Following the completion of the sale, the executive vice president owned 14,918 shares of the company’s stock, valued at approximately $649,977.26. This trade represents a 4.80% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 153,677 shares of company stock valued at $6,876,030. Company insiders own 3.18% of the company’s stock.

ScanSource Price Performance

SCSC opened at $42.32 on Wednesday. The stock’s 50 day simple moving average is $43.36 and its 200 day simple moving average is $40.78. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.01 and a quick ratio of 1.30. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $53.90. The firm has a market cap of $934.00 million, a price-to-earnings ratio of 14.06, a PEG ratio of 0.71 and a beta of 1.36.

ScanSource (NASDAQ:SCSC – Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The business had revenue of $812.89 million for the quarter, compared to analyst estimates of $776.21 million. During the same period last year, the company earned $0.80 EPS. ScanSource’s revenue for the quarter was up 8.9% compared to the same quarter last year. ScanSource has set its FY 2026 guidance at EPS. As a group, analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, October 8th. Barclays assumed coverage on ScanSource in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price objective on the stock. Wall Street Zen lowered ScanSource from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Finally, Zacks Research lowered ScanSource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.50.

Check Out Our Latest Report on ScanSource

ScanSource Company Profile

(Free Report)

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.

Featured Articles