Stock of The Day: ScanSource, Inc. Can’t Burn Your Short Portfolio. Has Another Weak Session

Stock of The Day: ScanSource, Inc. Can't Burn Your Short Portfolio. Has Another Weak Session

The stock of ScanSource, Inc. (NASDAQ:SCSC) is a huge mover today! About 730,547 shares traded hands or 707.64% up from the average. ScanSource, Inc. (NASDAQ:SCSC) has declined 12.63% since April 6, 2016 and is downtrending. It has underperformed by 14.58% the S&P500.
The move comes after 5 months negative chart setup for the $767.99 million company. It was reported on Nov, 8 by Barchart.com. We have $28.66 PT which if reached, will make NASDAQ:SCSC worth $38.40M less.

ScanSource, Inc. (NASDAQ:SCSC) Ratings Coverage

Out of 2 analysts covering ScanSource (NASDAQ:SCSC), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. ScanSource has been the topic of 3 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Zacks upgraded ScanSource, Inc. (NASDAQ:SCSC) on Wednesday, August 12 to “Sell” rating. The rating was maintained by Raymond James with “Outperform” on Tuesday, August 30. The stock of ScanSource, Inc. (NASDAQ:SCSC) earned “Buy” rating by Northcoast on Wednesday, December 23.

According to Zacks Investment Research, “ScanSource, Inc. serves North America as a value-added distributor of specialty technologies, including automatic identification and point-of-sale products, and business telephone products. Serving only the value added reseller, ScanSource is committed to growing specialty technology markets by strengthening and enlarging the value added reseller channel. ScanSource’s commitment to value added resellers includes offering a broad product selection, competitive pricing, fast delivery, technical support, sales training, customer financing and qualified leads.”

Insitutional Activity: The institutional sentiment increased to 1.29 in 2016 Q2. Its up 0.44, from 0.85 in 2016Q1. The ratio improved, as 6 funds sold all ScanSource, Inc. shares owned while 57 reduced positions. 33 funds bought stakes while 48 increased positions. They now own 24.55 million shares or 1.67% less from 24.96 million shares in 2016Q1.
Dimensional Fund Advsrs Ltd Partnership owns 2.18 million shares or 0.05% of their US portfolio. The Georgia-based Voya Invest Mngmt Ltd Llc has invested 0% in ScanSource, Inc. (NASDAQ:SCSC). Trexquant Investment L P owns 5,627 shares or 0.03% of their US portfolio. National Bank & Trust Of Montreal Can reported 40,802 shares or 0% of all its holdings. New York State Teachers Retirement Systems has invested 0.01% of its portfolio in ScanSource, Inc. (NASDAQ:SCSC). Paradigm Asset Mgmt Ltd Liability Corp reported 600 shares or 0% of all its holdings. Moreover, Bank & Trust Of New York Mellon has 0.01% invested in ScanSource, Inc. (NASDAQ:SCSC) for 1.20 million shares. Blair William & Il reported 6,908 shares or 0% of all its holdings. Stevens Capital Mgmt Lp holds 5,767 shares or 0.01% of its portfolio. Smith Graham And Company Inv Advsr Limited Partnership, a Texas-based fund reported 140,629 shares. Ellington Grp Ltd Liability Corp holds 0.33% of its portfolio in ScanSource, Inc. (NASDAQ:SCSC) for 6,400 shares. The Alabama-based Regions Fincl has invested 0.01% in ScanSource, Inc. (NASDAQ:SCSC). Allianz Asset Mgmt Ag holds 6,295 shares or 0% of its portfolio. The California-based Schwab Charles Investment Management Inc has invested 0.01% in ScanSource, Inc. (NASDAQ:SCSC). State Board Of Administration Of Florida Retirement Sys has 0% invested in the company for 14,942 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 1 sale for $190,550 net activity. 5,000 shares were sold by WHITCHURCH CHARLES R, worth $190,550.

SCSC Company Profile

ScanSource, Inc., incorporated on December 7, 1992, is a well-known provider of technology products and solutions. The Firm 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. The Firm operates through two divisions: Worldwide Barcode & Security and Worldwide Communications & Services.

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