Paul C. Heeschen Sells 1,205 Shares of PCM Inc. (PCMI) Stock
PCM Inc. (NASDAQ:PCMI) Director Paul C. Heeschen sold 1,205 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $19.81, for a total value of $23,871.05. Following the completion of the sale, the director now owns 39,102 shares of the company’s stock, valued at approximately $774,610.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of PCM Inc. (NASDAQ:PCMI) opened at 19.20 on Tuesday. The firm’s 50-day moving average price is $20.86 and its 200-day moving average price is $15.90. PCM Inc. has a 52 week low of $7.48 and a 52 week high of $24.53. The firm’s market cap is $226.81 million.
PCMI has been the subject of a number of recent research reports. B. Riley reiterated a “buy” rating and issued a $17.00 target price on shares of PCM in a research note on Saturday, July 30th. Roth Capital upgraded PCM from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.50 to $24.00 in a research note on Thursday, October 27th. Finally, Zacks Investment Research lowered PCM from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 3rd.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in PCM by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 46,261 shares of the company’s stock worth $515,000 after buying an additional 373 shares during the last quarter. Royce & Associates LP boosted its stake in PCM by 4.0% in the second quarter. Royce & Associates LP now owns 1,065,356 shares of the company’s stock worth $11,868,000 after buying an additional 40,668 shares during the last quarter. Algert Global LLC purchased a new stake in PCM during the third quarter worth about $2,049,000. Mork Capital Management LLC purchased a new stake in PCM during the second quarter worth about $557,000. Finally, Royal Bank of Canada boosted its stake in PCM by 28.6% in the second quarter. Royal Bank of Canada now owns 37,158 shares of the company’s stock worth $414,000 after buying an additional 8,256 shares during the last quarter. 42.26% of the stock is owned by hedge funds and other institutional investors.
PCM, Inc is engaged in providing technology products, services and solutions through direct marketing channels, and owned and operated data centers. The Company offers technology products, solutions and other consumer products. Its segments include Commercial, Public Sector, MacMall, Canada, and Corporate & Other.
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