PCM Inc. (PCMI) Shares Down 3.5%
PCM Inc. (NASDAQ:PCMI) shares fell 3.5% on Friday . The stock traded as low as $17.75 and last traded at $17.76, with a volume of 126,042 shares trading hands. The stock had previously closed at $18.40.
Several research firms have weighed in on PCMI. Zacks Investment Research lowered shares of PCM from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. B. Riley reiterated a “buy” rating and issued a $14.50 price objective on shares of PCM in a research note on Monday, April 25th. TheStreet upgraded shares of PCM from a “sell” rating to a “hold” rating in a research note on Friday, May 27th. Finally, Roth Capital assumed coverage on shares of PCM in a research note on Thursday, July 21st. They issued a “buy” rating and a $16.00 price objective on the stock.
The firm’s market cap is $203.69 million. The company has a 50-day moving average of $13.15 and a 200 day moving average of $10.03.
PCM (NASDAQ:PCMI) last issued its quarterly 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. Equities research analysts forecast that PCM Inc. will post $1.57 earnings per share for the current year.
In related news, Director Ronald B. Reck sold 19,466 shares of PCM 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 transaction, the director now owns 40,966 shares of the company’s stock, valued at approximately $660,781.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brandon H. Laverne sold 30,000 shares of PCM stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $16.99, for a total transaction of $509,700.00. Following the transaction, the chief financial officer now directly owns 12,879 shares in the company, valued at approximately $218,814.21. The disclosure for this sale can be found here.
An institutional investor recently raised its position in PCM stock. Royce & Associates LLC boosted its stake in PCM Inc. (NASDAQ:PCMI) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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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