Thomas A. Maloof Sells 2,500 Shares of PCM Inc. (PCMI) Stock
PCM Inc. (NASDAQ:PCMI) Director Thomas A. Maloof sold 2,500 shares of the stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $22.00, for a total value of $55,000.00. Following the completion of the sale, the director now owns 60,500 shares in the company, valued at approximately $1,331,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
PCM Inc. (NASDAQ:PCMI) opened at 21.97 on Friday. The firm’s 50-day moving average price is $19.02 and its 200 day moving average price is $13.04. PCM Inc. has a 52-week low of $7.48 and a 52-week high of $22.17. The company’s market cap is $256.43 million.
PCM (NASDAQ:PCMI) last announced its earnings results on Wednesday, July 27th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.29. The company had revenue of $581 million for the quarter, compared to analysts’ expectations of $478.87 million. PCM had a positive return on equity of 10.27% and a negative net margin of 0.38%. On average, equities analysts predict that PCM Inc. will post $1.57 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the company. B. Riley restated a “buy” rating and issued a $22.00 price target on shares of PCM in a research note on Tuesday, September 27th. Roth Capital cut PCM from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. Finally, 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 report on Saturday, July 30th.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royce & Associates LP boosted its position in shares of PCM by 2.4% in the first quarter. Royce & Associates LP now owns 1,024,688 shares of the company’s stock valued at $8,218,000 after buying an additional 23,700 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 during the last quarter. Royal Bank of Canada boosted its position in shares of PCM by 28.6% in the second quarter. Royal Bank of Canada now owns 37,158 shares of the company’s stock valued at $414,000 after buying an additional 8,256 shares during the last quarter. Stifel Financial Corp bought a new position in shares of PCM during the second quarter valued at about $3,788,000. Finally, Mork Capital Management LLC bought a new position in shares of PCM during the second quarter valued at about $557,000. 34.72% of the stock is currently owned by institutional investors.
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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