Thomas A. Maloof Sells 5,000 Shares of PCM Inc. (PCMI) Stock
PCM Inc. (NASDAQ:PCMI) Director Thomas A. Maloof sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $20.50, for a total transaction of $102,500.00. Following the sale, the director now owns 65,500 shares of the company’s stock, valued at approximately $1,342,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
PCM Inc. (NASDAQ:PCMI) opened at 21.77 on Tuesday. The stock has a 50 day moving average of $18.72 and a 200 day moving average of $12.81. PCM Inc. has a one year low of $7.48 and a one year high of $22.00. The firm’s market cap is $254.10 million.
PCM (NASDAQ:PCMI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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. PCM had a negative net margin of 0.38% and a positive return on equity of 10.27%. Equities research analysts predict that PCM Inc. will post $1.57 EPS for the current fiscal year.
Several brokerages have commented on PCMI. B. Riley reiterated a “buy” rating and set a $22.00 target price on shares of PCM in a research report on Tuesday, September 27th. Roth Capital cut shares of PCM from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. Finally, Zacks Investment Research upgraded shares of PCM from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Saturday, July 30th.
Several hedge funds have recently bought and sold shares of the company. Royce & Associates LP raised its stake in PCM by 4.0% in the second quarter. Royce & Associates LP now owns 1,065,356 shares of the company’s stock valued at $11,868,000 after buying an additional 40,668 shares in the last quarter. Stifel Financial Corp purchased a new stake in PCM during the second quarter valued at about $3,788,000. Renaissance Technologies LLC raised its stake in PCM by 29.8% in the first quarter. Renaissance Technologies LLC now owns 128,200 shares of the company’s stock valued at $1,028,000 after buying an additional 29,400 shares in the last quarter. Mork Capital Management LLC purchased a new stake in PCM during the second quarter valued at about $557,000. Finally, Bank of New York Mellon Corp raised its stake in PCM by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 46,261 shares of the company’s stock valued at $515,000 after buying an additional 373 shares in the last quarter. Institutional investors and hedge funds own 34.72% of the company’s stock.
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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