Short Interest in PCM Inc (NASDAQ:PCMI) Expands By 13.5%
PCM Inc (NASDAQ:PCMI) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 360,100 shares, an increase of 13.5% from the July 31st total of 317,400 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average daily volume of 248,200 shares, the short-interest ratio is currently 1.5 days.
Several large investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its position in shares of PCM by 22.6% in the 2nd quarter. Advisor Group Inc. now owns 3,624 shares of the specialty retailer’s stock valued at $127,000 after acquiring an additional 667 shares in the last quarter. Bank of Montreal Can acquired a new position in PCM in the 2nd quarter valued at approximately $28,000. USA Financial Portformulas Corp increased its stake in PCM by 18.8% in the 2nd quarter. USA Financial Portformulas Corp now owns 7,000 shares of the specialty retailer’s stock valued at $256,000 after buying an additional 1,110 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in PCM by 0.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 202,025 shares of the specialty retailer’s stock valued at $7,400,000 after buying an additional 1,119 shares during the period. Finally, Group One Trading L.P. acquired a new position in PCM in the 1st quarter valued at approximately $55,000. Institutional investors and hedge funds own 58.36% of the company’s stock.
Shares of NASDAQ:PCMI remained flat at $$35.01 during mid-day trading on Friday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.22. The stock has a market cap of $431.67 million, a price-to-earnings ratio of 16.06 and a beta of 1.35. PCM has a 12 month low of $14.80 and a 12 month high of $39.69. The business’s 50 day moving average price is $34.94 and its 200-day moving average price is $32.22.
Several analysts recently commented on PCMI shares. Zacks Investment Research lowered shares of PCM from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 27th. BidaskClub raised shares of PCM from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Roth Capital lowered shares of PCM from a “buy” rating to a “neutral” rating and cut their target price for the company from $36.00 to $35.00 in a research note on Tuesday, June 25th. Finally, ValuEngine lowered shares of PCM from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $30.67.
PCM, Inc, through its subsidiaries, operates as a multi-vendor provider of technology products and solutions in the United States and the rest of Europe. The company operates through four segments: Commercial, Public Sector, Canada, and United Kingdom. It primarily sells device products, servers, storage products, network products, printers, and related accessories and devices.
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