PC Connection, Inc. (NASDAQ:CNXN) Sees Significant Increase in Short Interest

PC Connection, Inc. (NASDAQ:CNXN) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 370,800 shares, a growth of 64.6% from the February 13th total of 225,300 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average daily trading volume, of 95,800 shares, the days-to-cover ratio is presently 3.9 days.

PC Connection Trading Up 1.2 %

NASDAQ CNXN traded up $0.72 on Friday, hitting $60.51. 133,642 shares of the stock traded hands, compared to its average volume of 103,966. The stock has a 50-day moving average of $67.43 and a 200 day moving average of $70.39. PC Connection has a twelve month low of $57.47 and a twelve month high of $77.19. The company has a market capitalization of $1.58 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) 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 period in the prior year, the company posted $0.90 earnings per share. As a group, equities research analysts expect that PC Connection will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were issued a $0.15 dividend. This is an increase from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, February 25th. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. PC Connection’s dividend payout ratio (DPR) is 18.24%.

Institutional Trading of PC Connection

Hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in shares of PC Connection in the 3rd quarter worth approximately $28,000. New Age Alpha Advisors LLC bought a new stake in PC Connection during the 4th quarter valued at $40,000. Public Employees Retirement System of Ohio raised its stake in PC Connection by 143.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company’s stock valued at $77,000 after acquiring an additional 657 shares in the last quarter. Graham Capital Management L.P. bought a new stake in PC Connection during the 4th quarter valued at $202,000. Finally, EntryPoint Capital LLC raised its stake in PC Connection by 8.3% during the 4th quarter. EntryPoint Capital LLC now owns 3,220 shares of the company’s stock valued at $223,000 after acquiring an additional 248 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

PC Connection Company Profile

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.