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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 12, ScanSource, Inc.'s Director, Peter C. Browning, invested $50,081.70 into 1,390 shares of SCSC, for a cost per share of $36.03. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Monday, bargain hunters could buy shares of ScanSource, Inc. (NASDAQ:SCSC) and achieve a cost basis 10.4% cheaper than Browning, with shares changing hands as low as $32.28 per share. ScanSource, Inc. shares are currently trading off about 0.3% on the day. The chart below shows the one year performance of SCSC shares, versus its 200 day moving average:
Looking at the chart above, SCSC's low point in its 52 week range is $23.473 per share, with $40.825 as the 52 week high point — that compares with a last trade of $32.30. By comparison, below is a table showing the prices at which SCSC insider buying was recorded over the last six months:
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