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Scansource, Inc. [SCSC] CEO & Chairman of the Board makes an insider sale of 6,160 shares worth 269,007.

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Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Scansource, Inc. shares valued at $269,007 were sold by BAUR MICHAEL L on Jul 03 ’24. At $43.67 per share, BAUR MICHAEL L sold 6,160 shares. The insider’s holdings dropped to 118,080 shares worth approximately $5.17 million following the completion of this transaction.

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Also, BAUR MICHAEL L sold 23,400 shares, netting a total of over 1,020,006 in proceeds. Following the sale of shares at $43.59 each, the insider now holds 118,080 shares.

Before that, BAUR MICHAEL L had sold 24,093 shares from its account. In a trade valued at $1,045,694, the CEO & Chairman of the Board traded Scansource, Inc. shares for $43.40 each. Upon closing the transaction, the insider’s holdings decreased to 24,093 shares, worth approximately $5.17 million.

As published in a research note from Northcoast on December 19, 2023, Scansource, Inc. [SCSC] has been rated down from a Buy to a Neutral and the price target has been revised to $36. Analysts at Northcoast upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late August. As of May 24, 2023, Northcoast has decreased its “Buy” rating to a “Neutral” for SCSC. Earlier on July 28, 2021, Northcoast upgraded its rating. Their new recommendation was “a Buy” for SCSC stock which previously was a “a Neutral”.

Analyzing SCSC Stock Performance

During the last five days, there has been a drop of approximately -0.82%. Over the course of the year, Scansource, Inc. shares have jumped approximately 10.45%. Shares of the company reached a 52-week high of $50.95 on 05/22/24 and a 52-week low of $31.01 on 02/06/24. A 50-day SMA is recorded $45.71, while a 200-day SMA reached $39.27. Nevertheless, trading volume fell to 0.14 million shares from 0.2 million shares the previous day.

Support And Resistance Levels for Scansource, Inc. (SCSC)

According to the 24-hour chart, there is a support level at 43.31, which, if violated, would cause prices to drop to 42.87. In the upper region, resistance lies at 44.03. The next price resistance is at 44.30. RSI (Relative Strength Index) is 41.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.56, which suggests the price will decrease in the coming days. Percent R is at 65.90%, indicating low price movement. Stochastics%K at buying indicates that the stock is to be held.

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