PCM Inc. (PCMI) Shares Up 9.5%
PCM Inc. (NASDAQ:PCMI) shot up 9.5% on Thursday . The company traded as high as $17.00 and last traded at $17.00, with a volume of 63,843 shares. The stock had previously closed at $15.52.
A number of research firms recently weighed in on PCMI. Zacks Investment Research downgraded shares of PCM from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. B. Riley restated a “buy” rating and set a $14.50 price objective on shares of PCM in a report on Monday, April 25th. TheStreet upgraded shares of PCM from a “sell” rating to a “hold” rating in a report on Friday, May 27th. Finally, Roth Capital initiated coverage on shares of PCM in a report on Thursday, July 21st. They set a “buy” rating and a $16.00 price objective for the company.
The stock’s 50-day moving average price is $12.35 and its 200 day moving average price is $9.76. The stock’s market capitalization is $200.32 million.
PCM (NASDAQ:PCMI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.29. The company earned $581 million during the quarter, compared to analyst estimates of $478.87 million. On average, equities analysts forecast that PCM Inc. will post $1.57 EPS for the current year.
In other news, CFO Brandon H. Laverne sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $16.99, for a total value of $509,700.00. Following the sale, the chief financial officer now directly owns 12,879 shares in the company, valued at approximately $218,814.21. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald B. Reck sold 19,466 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $16.13, for a total transaction of $313,986.58. Following the completion of the sale, the director now owns 40,966 shares in the company, valued at $660,781.58. The disclosure for this sale can be found here.
An institutional investor recently raised its position in PCM stock. Royce & Associates LLC increased its position in shares of PCM Inc. (NASDAQ:PCMI) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000,988 shares of the company’s stock after buying an additional 38,721 shares during the period. Royce & Associates LLC owned 8.42% of PCM worth $9,940,000 at the end of the most recent quarter.
PCM, Inc is a technology solutions provider company. The Company provides technology products, services and solutions through its sales force and field service teams, direct marketing channels and a range of retail stores. The Company offers technology products and solutions, as well as consumer electronics equipment and other consumer products.
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