Denali Advisors LLC Takes Position in ScanSource, Inc. $SCSC

Denali Advisors LLC acquired a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 8,955 shares of the industrial products company’s stock, valued at approximately $374,000.

A number of other large investors have also recently made changes to their positions in SCSC. GAMMA Investing LLC lifted 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 buying an additional 395 shares in the last quarter. Quarry LP lifted its position in shares of ScanSource by 344.3% during the 1st quarter. Quarry LP now owns 3,541 shares of the industrial products company’s stock valued at $120,000 after buying an additional 2,744 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of ScanSource during the 2nd quarter valued at about $131,000. Praxis Investment Management Inc. purchased a new stake in shares of ScanSource during the 2nd quarter worth approximately $207,000. Finally, Bailard Inc. raised its holdings in shares of ScanSource by 28.3% during the 1st quarter. Bailard Inc. now owns 6,800 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 1,500 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Trading Up 1.3%

Shares of NASDAQ SCSC opened at $42.88 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.01 and a quick ratio of 1.30. The stock has a market capitalization of $938.43 million, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.71 and a beta of 1.36. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90. The business has a fifty day moving average price of $43.38 and a 200 day moving average price of $40.41.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. The firm had revenue of $812.89 million during the quarter, compared to analysts’ expectations of $776.21 million. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. ScanSource has set its FY 2026 guidance at EPS. Equities research analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael L. Baur sold 47,969 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $44.34, for a total transaction of $2,126,945.46. Following the completion of the sale, the chief executive officer directly owned 202,512 shares in the company, valued at $8,979,382.08. This represents a 19.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Rachel Hayden sold 752 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 14,918 shares of the company’s stock, valued at $649,977.26. This trade represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,677 shares of company stock valued at $6,876,030 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SCSC has been the topic of several recent research reports. Zacks Research cut ScanSource from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ScanSource in a report on Wednesday, October 8th. Wall Street Zen cut ScanSource from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Finally, Barclays began coverage on ScanSource in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 target price on the stock. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.50.

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.