PCM Inc. (PCMI) Sees Large Volume Increase
PCM Inc. (NASDAQ:PCMI) saw unusually-strong trading volume on Monday . Approximately 292,275 shares traded hands during mid-day trading, an increase of 15% from the previous session’s volume of 253,490 shares.The stock last traded at $18.06 and had previously closed at $17.79.
A number of equities analysts have recently issued reports on PCMI shares. Roth Capital downgraded PCM from a “buy” rating to a “neutral” rating in a research note on Thursday. Zacks Investment Research upgraded PCM from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Saturday, July 30th. B. Riley reiterated a “buy” rating and set a $17.00 target price on shares of PCM in a research report on Saturday, July 30th. Finally, TheStreet upgraded PCM from a “sell” rating to a “hold” rating in a research report on Friday, May 27th.
The firm’s 50-day moving average is $15.49 and its 200-day moving average is $10.93. The company’s market cap is $215.58 million.
PCM (NASDAQ:PCMI) last posted its earnings results on Wednesday, July 27th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.29. The company had revenue of $581 million for the quarter, compared to analysts’ expectations of $478.87 million. Analysts anticipate that PCM Inc. will post $1.57 EPS for the current fiscal year.
In other news, Director Thomas A. Maloof sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $18.63, for a total transaction of $74,520.00. Following the transaction, the director now directly owns 73,500 shares of the company’s stock, valued at $1,369,305. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronald B. Reck sold 19,466 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 40,966 shares in the company, valued at $660,781.58. 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.