PCM Inc (NASDAQ:PCMI) Sees Significant Decline in Short Interest

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PCM Inc (NASDAQ:PCMI) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 353,700 shares, a decline of 20.7% from the May 15th total of 446,300 shares. Currently, 4.0% of the shares of the stock are short sold. Based on an average daily volume of 208,600 shares, the short-interest ratio is currently 1.7 days.

PCMI has been the subject of a number of research reports. ValuEngine cut shares of PCM from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. B. Riley reissued a “buy” rating on shares of PCM in a research note on Tuesday, March 26th. BidaskClub cut shares of PCM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Roth Capital cut shares of PCM from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $35.00 in a research note on Tuesday. Finally, Zacks Investment Research cut shares of PCM from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $30.67.

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in PCM by 216.6% during the 3rd quarter. Morgan Stanley now owns 227,305 shares of the specialty retailer’s stock valued at $4,444,000 after acquiring an additional 155,518 shares in the last quarter. Vanguard Group Inc. grew its stake in PCM by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 417,338 shares of the specialty retailer’s stock valued at $8,159,000 after acquiring an additional 8,590 shares in the last quarter. First Trust Advisors LP grew its stake in PCM by 20.7% during the 4th quarter. First Trust Advisors LP now owns 15,549 shares of the specialty retailer’s stock valued at $274,000 after acquiring an additional 2,667 shares in the last quarter. Acadian Asset Management LLC grew its stake in PCM by 30.9% during the 4th quarter. Acadian Asset Management LLC now owns 155,737 shares of the specialty retailer’s stock valued at $2,743,000 after acquiring an additional 36,805 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in PCM by 25.0% during the 4th quarter. California Public Employees Retirement System now owns 28,314 shares of the specialty retailer’s stock valued at $499,000 after acquiring an additional 5,665 shares in the last quarter. 61.39% of the stock is owned by institutional investors and hedge funds.

Shares of PCMI stock traded up $0.09 on Thursday, reaching $34.89. 1,098,975 shares of the company were exchanged, compared to its average volume of 209,796. The company has a market cap of $430.09 million, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 0.72 and a beta of 1.14. The firm has a 50-day moving average of $27.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 1.06. PCM has a 1 year low of $14.15 and a 1 year high of $39.69.

PCM (NASDAQ:PCMI) last released its earnings results on Thursday, April 25th. The specialty retailer reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The business had revenue of $533.99 million during the quarter, compared to analysts’ expectations of $533.20 million. PCM had a net margin of 1.14% and a return on equity of 19.06%. Analysts anticipate that PCM will post 2.44 EPS for the current year.

About PCM

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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