Olympiad Research LP Invests $277,000 in ScanSource, Inc. (NASDAQ:SCSC)

Olympiad Research LP acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,757 shares of the industrial products company’s stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in shares of ScanSource by 1.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock worth $979,000 after buying an additional 220 shares during the last quarter. EMC Capital Management increased its holdings in ScanSource by 3.5% in the 1st quarter. EMC Capital Management now owns 7,398 shares of the industrial products company’s stock valued at $326,000 after purchasing an additional 247 shares in the last quarter. Rhumbline Advisers increased its holdings in ScanSource by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company’s stock valued at $3,798,000 after purchasing an additional 264 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in ScanSource by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 308 shares in the last quarter. Finally, CWM LLC increased its holdings in ScanSource by 164.1% in the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 402 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Stock Up 0.7 %

Shares of NASDAQ SCSC opened at $50.77 on Friday. The stock has a fifty day moving average price of $47.15 and a 200 day moving average price of $46.71. The company has a current ratio of 2.10, a quick ratio of 1.33 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.22 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.37 and a beta of 1.42. ScanSource, Inc. has a 12-month low of $27.86 and a 12-month high of $53.48.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13). The business had revenue of $746.11 million for the quarter, compared to analyst estimates of $838.60 million. ScanSource had a net margin of 2.36% and a return on equity of 8.32%. The firm’s revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. Research analysts anticipate that ScanSource, Inc. will post 3.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Raymond James downgraded ScanSource from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th.

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.