Pekin Singer Strauss Asset Management Il Lowers stake in ScanSource (SCSC)

ScanSource (SCSC) : Pekin Singer Strauss Asset Management Il reduced its stake in ScanSource by 20.56% during the most recent quarter end. The investment management company now holds a total of 121,112 shares of ScanSource which is valued at $4,942,581 after selling 31,348 shares in ScanSource , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.ScanSource makes up approximately 1.05% of Pekin Singer Strauss Asset Management Il’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp sold out all of its stake in SCSC during the most recent quarter. The investment firm sold 2,418 shares of SCSC which is valued $98,679.Fenimore Asset Management Inc boosted its stake in SCSC in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 255,050 shares of ScanSource which is valued at $9,962,253. ScanSource makes up approx 0.48% of Fenimore Asset Management Inc’s portfolio.

ScanSource opened for trading at $41 and hit $42.3625 on the upside on Monday, eventually ending the session at $42.28, with a gain of 1.63% or 0.68 points. The heightened volatility saw the trading volume jump to 1,16,745 shares. Company has a market cap of $1,085 M.

On the company’s financial health, ScanSource reported $0.64 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 10, 2016. Analyst had a consensus of $0.65. The company had revenue of $798.40 million for the quarter, compared to analysts expectations of $871.06 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

ScanSource Inc. is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets such as point-of-sale (POS) and barcode physical security and three dimensional (3D) printing and communications. The Company operates through two business segments: Worldwide Barcode & Security and Worldwide Communications & Services. The Barcode & Security distribution segment focuses on automatic identification and data capture (AIDC) POS electronic physical security and 3D printing technologies. The Company markets around 100000 products from around 300 hardware and software vendors to around 35000 reseller customers from its distribution centers. The Communications & Services distribution segment focuses on communications technologies and services. The Company operates in the United States Canada Latin America and Europe.

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