Renaissance Technologies LLC increased its position in PCM Inc (NASDAQ:PCMI) by 10.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 378,000 shares of the specialty retailer’s stock after buying an additional 35,400 shares during the period. Renaissance Technologies LLC owned approximately 3.16% of PCM worth $8,505,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of PCMI. Dimensional Fund Advisors LP boosted its position in shares of PCM by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 995,326 shares of the specialty retailer’s stock worth $22,395,000 after buying an additional 62,611 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of PCM by 4,148.6% in the third quarter. Acadian Asset Management LLC now owns 265,452 shares of the specialty retailer’s stock worth $5,718,000 after buying an additional 259,204 shares during the last quarter. Spark Investment Management LLC bought a new position in shares of PCM during the third quarter worth about $1,979,000. Systematic Financial Management LP bought a new position in shares of PCM during the fourth quarter worth about $1,778,000. Finally, Nationwide Fund Advisors boosted its stake in PCM by 1,521.5% in the third quarter. Nationwide Fund Advisors now owns 53,073 shares of the specialty retailer’s stock worth $1,143,000 after buying an additional 49,800 shares in the last quarter. 44.70% of the stock is owned by institutional investors and hedge funds.
PCM Inc (NASDAQ:PCMI) traded up 0.36% during mid-day trading on Friday, hitting $27.80. The company’s stock had a trading volume of 91,774 shares. The firm has a market cap of $346.86 million, a price-to-earnings ratio of 19.86 and a beta of 0.91. PCM Inc has a 52-week low of $8.15 and a 52-week high of $29.85. The firm has a 50 day moving average of $27.26 and a 200-day moving average of $23.67.
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A number of equities research analysts recently weighed in on PCMI shares. B. Riley reaffirmed a “buy” rating and set a $27.00 price target on shares of PCM in a report on Friday, February 3rd. Zacks Investment Research lowered PCM from a “hold” rating to a “sell” rating in a research report on Friday, February 10th. Roth Capital set a $24.00 target price on PCM and gave the stock a “buy” rating in a report on Tuesday, February 7th. Finally, TheStreet upgraded PCM from a “c” rating to a “b-” rating in a report on Wednesday, February 22nd.
In other PCM news, Director Thomas A. Maloof sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $26.65, for a total transaction of $66,625.00. Following the completion of the sale, the director now directly owns 50,500 shares of the company’s stock, valued at $1,345,825. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Simon M. Abuyounes sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $22.63, for a total transaction of $113,150.00. Following the sale, the insider now directly owns 63,327 shares of the company’s stock, valued at $1,433,090.01. The disclosure for this sale can be found here. Insiders have sold 357,711 shares of company stock valued at $9,527,286 over the last three months. 30.50% of the stock is owned by corporate insiders.
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 and Canada.
