Scansource, Inc.’s recent filing unveils that its CEO & Chairman of the Board BAUR MICHAEL L unloaded Company’s shares for reported $1.12 million on Jul 10 ’24. In the deal valued at $42.39 per share,26,341 shares were sold. As a result of this transaction, BAUR MICHAEL L now holds 118,080 shares worth roughly $6.01 million.
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Then, BAUR MICHAEL L sold 7,798 shares, generating $341,662 in total proceeds. Upon selling the shares at $43.81, the CEO & Chairman of the Board now owns 118,080 shares.
Before that, BAUR MICHAEL L sold 34,203 shares. Scansource, Inc. shares valued at $1,453,285 were divested by the CEO & Chairman of the Board at a price of $42.49 per share. As a result of the transaction, BAUR MICHAEL L now holds 118,080 shares, worth roughly $6.01 million.
Raymond James downgraded its Scansource, Inc. [SCSC] rating to a Mkt perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Northcoast’s analysts, who decreased its forecast for the stock in mid December from “a Buy” to “a Neutral”. Northcoast also remained covering SCSC and has increased its forecast on August 23, 2023 with a “Buy” recommendation from previously “Neutral” rating. Northcoast revised its rating on May 24, 2023. It rated SCSC as “a Neutral” which previously was an “a Buy”.
Price Performance Review of SCSC
On Friday,, Scansource, Inc. [NASDAQ:SCSC] saw its stock fall -2.60% to $50.94. Over the last five days, the stock has gained 3.56%. Scansource, Inc. shares have risen nearly 28.60% since the year began. Nevertheless, the stocks have risen 54.93% over the past one year. While a 52-week high of $53.28 was reached on 07/31/24, a 52-week low of $27.86 was recorded on 02/06/24. SMA at 50 days reached $47.03, while 200 days put it at $42.69.
Levels Of Support And Resistance For SCSC Stock
The 24-hour chart illustrates a support level at 49.96, which if violated will result in even more drops to 48.98. On the upside, there is a resistance level at 52.02. A further resistance level may holdings at 53.09. The Relative Strength Index (RSI) on the 14-day chart is 58.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.56, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 22.31%. Stochastics %K at 87.61% indicates the stock is a selling.
How much short interest is there in Scansource, Inc.?
A steep rise in short interest was recorded in Scansource, Inc. stocks on 2024-08-15, growing by 0.25 million shares to a total of 1.94 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 1.69 million shares. There was a rise of 12.93%, which implies that there is a positive sentiment for the stock.
