Great Lakes Advisors LLC Purchases 67,062 Shares of ScanSource, Inc. (SCSC)
Great Lakes Advisors LLC boosted its stake in ScanSource, Inc. (NASDAQ:SCSC) by 55.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,796 shares of the industrial products company’s stock after buying an additional 67,062 shares during the period. Great Lakes Advisors LLC owned approximately 0.75% of ScanSource worth $7,608,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCSC. State of Alaska Department of Revenue raised its position in shares of ScanSource by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 2,790 shares of the industrial products company’s stock valued at $109,000 after buying an additional 20 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of ScanSource by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock valued at $120,000 after buying an additional 446 shares during the last quarter. SG Americas Securities LLC raised its position in shares of ScanSource by 0.3% in the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock valued at $167,000 after buying an additional 14 shares during the last quarter. CHICAGO TRUST Co NA purchased a new position in shares of ScanSource during the second quarter valued at about $218,000. Finally, Mason Street Advisors LLC raised its position in shares of ScanSource by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,905 shares of the industrial products company’s stock valued at $232,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.
Shares of ScanSource, Inc. (SCSC) traded up 0.54% during mid-day trading on Friday, hitting $37.45. The stock had a trading volume of 7,817 shares. ScanSource, Inc. has a 52-week low of $29.05 and a 52-week high of $44.95. The firm has a market cap of $948.01 million, a PE ratio of 15.20 and a beta of 1.16. The stock’s 50-day moving average price is $39.12 and its 200-day moving average price is $39.52.
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Several brokerages have issued reports on SCSC. Zacks Investment Research upgraded ScanSource from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Saturday, May 6th. BidaskClub lowered ScanSource from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. ScanSource has an average rating of “Hold” and a consensus target price of $45.17.
In other ScanSource news, CEO Michael L. Baur sold 67,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $39.07, for a total value of $2,617,690.00. Following the completion of the sale, the chief executive officer now directly owns 47,890 shares in the company, valued at $1,871,062.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven R. Fischer sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $40.13, for a total transaction of $200,650.00. Following the completion of the sale, the director now owns 25,867 shares of the company’s stock, valued at $1,038,042.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,000 shares of company stock valued at $3,019,290. 3.03% of the stock is owned by insiders.
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.
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