PCM, Inc. (PCMI) Stake Increased by Petrus Trust Company LTA
Petrus Trust Company LTA lifted its stake in shares of PCM, Inc. (NASDAQ:PCMI) by 40.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,664 shares of the specialty retailer’s stock after buying an additional 3,947 shares during the quarter. Petrus Trust Company LTA owned about 0.11% of PCM worth $256,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Paradigm Capital Management Inc. NY raised its position in PCM by 370.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 687,500 shares of the specialty retailer’s stock valued at $12,890,000 after purchasing an additional 541,500 shares during the last quarter. Spark Investment Management LLC purchased a new stake in PCM in the 2nd quarter valued at $2,253,000. Renaissance Technologies LLC raised its position in PCM by 29.0% in the 1st quarter. Renaissance Technologies LLC now owns 487,600 shares of the specialty retailer’s stock valued at $13,677,000 after purchasing an additional 109,600 shares during the last quarter. Northern Trust Corp raised its position in PCM by 350.4% in the 2nd quarter. Northern Trust Corp now owns 119,510 shares of the specialty retailer’s stock valued at $2,241,000 after purchasing an additional 92,978 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in PCM in the 2nd quarter valued at $1,544,000. Institutional investors and hedge funds own 62.58% of the company’s stock.
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PCM, Inc. (PCMI) traded down 1.06% during mid-day trading on Friday, reaching $14.00. 79,441 shares of the company traded hands. The firm’s 50-day moving average is $12.81 and its 200 day moving average is $19.91. The stock has a market capitalization of $176.32 million, a PE ratio of 11.21 and a beta of 0.87. PCM, Inc. has a 52-week low of $11.80 and a 52-week high of $31.20.
PCM (NASDAQ:PCMI) last released its quarterly earnings data on Wednesday, July 26th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The business had revenue of $560.11 million during the quarter, compared to analyst estimates of $595.74 million. PCM had a return on equity of 17.32% and a net margin of 0.73%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities research analysts expect that PCM, Inc. will post $2.00 earnings per share for the current year.
PCM declared that its board has approved a share repurchase program on Wednesday, August 9th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the specialty retailer to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several analysts recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $33.00 price target on shares of PCM in a research report on Tuesday, July 25th. ValuEngine downgraded shares of PCM from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of PCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, BidaskClub upgraded shares of PCM from a “hold” rating to a “buy” rating in a research report on Saturday, July 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.18.
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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