Perritt Capital Management Inc. Decreases Stake in PCM Inc (NASDAQ:PCMI)

Perritt Capital Management Inc. lowered its position in shares of PCM Inc (NASDAQ:PCMI) by 62.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 61,609 shares of the specialty retailer’s stock after selling 102,891 shares during the quarter. Perritt Capital Management Inc. owned about 0.50% of PCM worth $2,159,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Acadian Asset Management LLC grew its stake in PCM by 61.2% during the first quarter. Acadian Asset Management LLC now owns 251,009 shares of the specialty retailer’s stock worth $9,193,000 after buying an additional 95,272 shares during the period. Pacific Ridge Capital Partners LLC boosted its position in PCM by 1.2% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 249,519 shares of the specialty retailer’s stock worth $8,743,000 after purchasing an additional 3,067 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in PCM by 0.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 202,025 shares of the specialty retailer’s stock worth $7,400,000 after purchasing an additional 1,119 shares during the period. Renaissance Technologies LLC boosted its position in PCM by 16.4% during the 2nd quarter. Renaissance Technologies LLC now owns 188,500 shares of the specialty retailer’s stock worth $6,605,000 after purchasing an additional 26,500 shares during the period. Finally, AJO LP increased its holdings in PCM by 99.5% in the 1st quarter. AJO LP now owns 157,392 shares of the specialty retailer’s stock valued at $5,765,000 after purchasing an additional 78,489 shares in the last quarter. 58.36% of the stock is owned by hedge funds and other institutional investors.

PCMI remained flat at $$35.01 during trading hours on Wednesday. PCM Inc has a fifty-two week low of $14.80 and a fifty-two week high of $39.69. The firm has a market cap of $431.67 million, a PE ratio of 16.06 and a beta of 1.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.08 and a quick ratio of 0.98. The company has a 50 day simple moving average of $34.93 and a 200-day simple moving average of $32.21.

PCM (NASDAQ:PCMI) last posted its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $548.33 million during the quarter, compared to analysts’ expectations of $550.89 million. PCM had a net margin of 1.16% and a return on equity of 19.12%.

Several research analysts have commented on PCMI shares. Roth Capital lowered PCM from a “buy” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $35.00 in a research report on Tuesday, June 25th. BidaskClub upgraded PCM from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Zacks Investment Research lowered PCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, ValuEngine cut PCM from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.67.

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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Institutional Ownership by Quarter for PCM (NASDAQ:PCMI)

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