PCM Inc. (PCMI) Sees Unusually-High Trading Volume
Shares of PCM Inc. (NASDAQ:PCMI) saw an uptick in trading volume on Tuesday . 211,817 shares changed hands during trading, an increase of 20% from the previous session’s volume of 176,484 shares.The stock last traded at $18.67 and had previously closed at $18.20.
A number of brokerages have recently issued reports on PCMI. B. Riley reiterated a “buy” rating and set a $17.00 price objective on shares of PCM in a research note on Saturday, July 30th. Zacks Investment Research upgraded PCM from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a research note on Saturday, July 30th. Roth Capital began coverage on PCM in a research note on Thursday, July 21st. They set a “buy” rating and a $16.00 price objective on the stock. Finally, TheStreet upgraded PCM from a “sell” rating to a “hold” rating in a research note on Friday, May 27th.
The firm has a 50-day moving average price of $13.96 and a 200-day moving average price of $10.33. The firm’s market cap is $211.85 million.
PCM (NASDAQ:PCMI) last released its earnings results on Wednesday, July 27th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.38 by $0.29. The business had revenue of $581 million for the quarter, compared to analyst estimates of $478.87 million. On average, equities research analysts anticipate that PCM Inc. will post $1.57 earnings per share for the current fiscal year.
In other PCM news, Director Ronald B. Reck sold 19,466 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $16.13, for a total value of $313,986.58. Following the completion of the sale, the director now owns 40,966 shares of the company’s stock, valued at $660,781.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas A. Maloof sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $18.63, for a total value of $74,520.00. Following the completion of the sale, the director now directly owns 73,500 shares of the company’s stock, valued at approximately $1,369,305. The disclosure for this sale can be found here.
PCM, Inc is engaged in providing technology products, services and solutions through direct marketing channels, and owned and operated data centers. The Company offers technology products, solutions and other consumer products. Its segments include Commercial, Public Sector, MacMall, Canada, and Corporate & Other.
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