Insider Selling: PCM, Inc. (PCMI) Insider Sells 5,000 Shares of Stock
PCM, Inc. (NASDAQ:PCMI) insider Simon M. Abuyounes sold 5,000 shares of PCM stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $23.20, for a total transaction of $116,000.00. Following the sale, the insider now directly owns 63,327 shares of the company’s stock, valued at approximately $1,469,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
PCM, Inc. (NASDAQ:PCMI) opened at 22.70 on Friday. The company’s 50-day moving average is $21.35 and its 200 day moving average is $18.35. The stock’s market capitalization is $268.97 million. PCM, Inc. has a one year low of $7.48 and a one year high of $24.53.
Hedge funds have recently bought and sold shares of the stock. DIAM Co. Ltd. purchased a new stake in PCM during the third quarter valued at $158,000. Bank of Montreal Can boosted its stake in PCM by 158.1% in the third quarter. Bank of Montreal Can now owns 8,650 shares of the company’s stock valued at $186,000 after buying an additional 5,298 shares during the period. BlackRock Group LTD purchased a new stake in PCM during the third quarter valued at $212,000. Acrospire Investment Management LLC purchased a new stake in PCM during the third quarter valued at $241,000. Finally, Nordea Investment Management AB purchased a new stake in PCM during the third quarter valued at $508,000. 43.55% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on PCMI. B. Riley reaffirmed a “buy” rating and set a $27.00 price target on shares of PCM in a research note on Thursday, October 27th. Roth Capital raised shares of PCM from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.50 to $24.00 in a report on Thursday, October 27th. Finally, Zacks Investment Research raised shares of PCM from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, November 1st.
PCM Company Profile
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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