PC Connection, Inc. (NASDAQ:CNXN) Short Interest Update

PC Connection, Inc. (NASDAQ:CNXN) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 200,000 shares, a drop of 8.0% from the January 15th total of 217,400 shares. Based on an average daily trading volume, of 75,600 shares, the days-to-cover ratio is currently 2.6 days. Approximately 2.0% of the company’s stock are short sold.

PC Connection Stock Down 0.0 %

PC Connection stock traded down $0.01 during midday trading on Tuesday, hitting $65.68. 106,687 shares of the stock were exchanged, compared to its average volume of 80,816. PC Connection has a 52-week low of $57.47 and a 52-week high of $77.19. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. The business’s 50-day moving average price is $70.23 and its 200-day moving average price is $71.20.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, sell-side analysts predict that PC Connection will post 3.43 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.91%. This is a boost from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, February 25th. PC Connection’s payout ratio is presently 12.16%.

Insider Activity

In other news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director now directly owns 71,750 shares in the company, valued at $5,022,500. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 56.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Martingale Asset Management L P boosted its stake in PC Connection by 0.4% in the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock valued at $2,798,000 after acquiring an additional 140 shares during the last quarter. Amalgamated Bank boosted its stake in PC Connection by 4.6% in the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after acquiring an additional 154 shares during the last quarter. New York State Teachers Retirement System boosted its stake in PC Connection by 4.9% in the third quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock valued at $348,000 after acquiring an additional 216 shares during the last quarter. Ieq Capital LLC boosted its stake in PC Connection by 3.5% in the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock valued at $457,000 after acquiring an additional 224 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PC Connection by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,588 shares of the company’s stock valued at $456,000 after acquiring an additional 234 shares during the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.

About PC Connection

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.