Brandywine Global Investment Management LLC purchased a new stake in PCM, Inc. (NASDAQ:PCMI) during the second quarter, according to its most recent filing with the SEC. The firm purchased 6,752 shares of the specialty retailer’s stock, valued at approximately $127,000. Brandywine Global Investment Management LLC owned 0.05% of PCM at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in PCMI. SG Americas Securities LLC acquired a new stake in shares of PCM in the 1st quarter valued at approximately $149,000. Bank of Montreal Can raised its holdings in PCM by 67.5% during the 2nd quarter. Bank of Montreal Can now owns 11,076 shares of the specialty retailer’s stock worth $208,000 after buying an additional 4,464 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in PCM during the 1st quarter worth approximately $210,000. Citadel Advisors LLC acquired a new stake in PCM during the 2nd quarter worth approximately $233,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in PCM during the 2nd quarter worth approximately $277,000. Institutional investors and hedge funds own 62.58% of the company’s stock.
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Several analysts have commented on PCMI shares. ValuEngine downgraded shares of PCM from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. B. Riley reiterated a “buy” rating and issued a $33.00 price objective on shares of PCM in a report on Sunday, July 30th. Finally, BidaskClub upgraded shares of PCM from a “hold” rating to a “buy” rating in a report on Saturday, July 15th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.23.
PCM (NASDAQ:PCMI) last announced its quarterly earnings data on Wednesday, July 26th. The specialty retailer reported $0.44 earnings per share (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 the consensus estimate of $595.74 million. PCM had a net margin of 0.73% and a return on equity of 17.32%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS.
PCM declared that its board has authorized a stock repurchase program on Wednesday, August 9th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the specialty retailer to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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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