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Scansource, Inc. (SCSC) receives a Neutral rating from Northcoast

Scansource, Inc.’s recently made public that its Director BROWNING PETER C unloaded Company’s shares for reported $0.31 million on Feb 21 ’24. In the deal valued at $41.17 per share,7,500 shares were sold. As a result of this transaction, BROWNING PETER C now holds 30,249 shares worth roughly $1.34 million.

Then, BAUR MICHAEL L sold 30,677 shares, generating $1,165,419 in total proceeds. Upon selling the shares at $37.99, the CEO & Chair of the Board now owns 127,133 shares.

Before that, BROWNING PETER C sold 2,000 shares. Scansource, Inc. shares valued at $78,600 were divested by the Director at a price of $39.30 per share. As a result of the transaction, BROWNING PETER C now holds 37,749 shares, worth roughly $1.68 million.

Northcoast downgraded its Scansource, Inc. [SCSC] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Northcoast’s analysts, who increased its forecast for the stock in late August from “a Neutral” to “a Buy”. Northcoast also remained covering SCSC and has decreased its forecast on May 24, 2023 with a “Neutral” recommendation from previously “Buy” rating. Northcoast revised its rating on July 28, 2021. It rated SCSC as “a Buy” which previously was an “a Neutral”.

Price Performance Review of SCSC

On Tuesday, Scansource, Inc. [NASDAQ:SCSC] saw its stock jump 7.16% to $44.45. Over the last five days, the stock has gained 10.11%. Scansource, Inc. shares have risen nearly 12.22% since the year began. Nevertheless, the stocks have risen 60.06% over the past one year. While a 52-week high of $45.10 was reached on 03/08/24, a 52-week low of $26.14 was recorded on 02/06/24. SMA at 50 days reached $42.25, while 200 days put it at $35.42. A total of 0.4 million shares were traded, compared to the trading of 0.22 million shares in the previous session.

Levels Of Support And Resistance For SCSC Stock

The 24-hour chart illustrates a support level at 42.44, which if violated will result in even more drops to 40.43. On the upside, there is a resistance level at 45.62. A further resistance level may holdings at 46.78. The Relative Strength Index (RSI) on the 14-day chart is 66.26, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.09, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 6.66%. Stochastics %K at 59.36% indicates the stock is a holding.

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