PCM, Inc. (PCMI) Shares Sold by Royce & Associates LP
Royce & Associates LP lessened its holdings in shares of PCM, Inc. (NASDAQ:PCMI) by 25.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 234,727 shares of the specialty retailer’s stock after selling 79,252 shares during the quarter. Royce & Associates LP owned about 1.99% of PCM worth $3,286,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC bought a new stake in PCM in the 2nd quarter worth approximately $127,000. The Manufacturers Life Insurance Company lifted its position in PCM by 16,357.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,558 shares of the specialty retailer’s stock worth $160,000 after buying an additional 8,506 shares during the last quarter. Rhumbline Advisers bought a new stake in PCM in the 3rd quarter worth approximately $142,000. Bank of Montreal Can lifted its position in PCM by 67.5% in the 2nd quarter. Bank of Montreal Can now owns 11,076 shares of the specialty retailer’s stock worth $208,000 after buying an additional 4,464 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in PCM in the 2nd quarter worth approximately $233,000. Institutional investors own 56.18% of the company’s stock.
Shares of PCM, Inc. (NASDAQ PCMI) opened at $9.65 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 0.85. PCM, Inc. has a 12-month low of $9.40 and a 12-month high of $31.20. The firm has a market capitalization of $116.04, a P/E ratio of 6.44, a price-to-earnings-growth ratio of 0.22 and a beta of 0.79.
PCM (NASDAQ:PCMI) last announced its quarterly earnings data on Monday, November 6th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.23). PCM had a net margin of 0.47% and a return on equity of 14.90%. The company had revenue of $545.50 million during the quarter, compared to the consensus estimate of $596.17 million. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. equities research analysts forecast that PCM, Inc. will post 1.49 EPS for the current fiscal year.
A number of analysts recently weighed in on PCMI shares. ValuEngine upgraded PCM from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Roth Capital dropped their target price on PCM from $28.00 to $18.50 and set a “buy” rating for the company in a research report on Tuesday, November 7th. B. Riley restated a “buy” rating and issued a $20.00 target price (down previously from $33.00) on shares of PCM in a research report on Tuesday, November 7th. TheStreet downgraded PCM from a “b-” rating to a “c” rating in a research report on Monday, November 6th. Finally, Zacks Investment Research downgraded PCM from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 11th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. PCM has a consensus rating of “Hold” and a consensus target price of $18.73.
PCM Company Profile
PCM, Inc is a multi-vendor provider of technology solutions, including hardware products, software and services, offered through its dedicated sales force, field and internal service teams, direct marketing channels, and owned and operated data centers. The Company’s segments include Commercial, Public Sector, Canada and United Kingdom.
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