PC Connection, Inc. (NASDAQ:CNXN) Sees Large Drop in Short Interest

PC Connection, Inc. (NASDAQ:CNXN) was the target of a large drop in short interest in 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 short-interest ratio is presently 2.6 days. Currently, 2.0% of the company’s shares are sold short.

Insider Buying and Selling

In related news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 56.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of PC Connection by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,887 shares of the company’s stock valued at $1,447,000 after acquiring an additional 2,629 shares in the last quarter. Vident Advisory LLC increased its stake in shares of PC Connection by 4.2% in the 4th quarter. Vident Advisory LLC now owns 6,934 shares of the company’s stock valued at $480,000 after acquiring an additional 277 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of PC Connection in the 4th quarter valued at $243,000. Nuveen Asset Management LLC increased its stake in shares of PC Connection by 12.7% in the 4th quarter. Nuveen Asset Management LLC now owns 113,261 shares of the company’s stock valued at $7,846,000 after acquiring an additional 12,795 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PC Connection by 3.7% in the 4th 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 in the last quarter. Institutional investors own 42.85% of the company’s stock.

PC Connection Stock Up 0.6 %

PC Connection stock traded up $0.41 during mid-day trading on Monday, hitting $65.69. 60,279 shares of the stock were exchanged, compared to its average volume of 75,702. PC Connection has a 12 month low of $57.47 and a 12 month high of $77.19. The firm’s fifty day simple moving average is $70.23 and its two-hundred day simple moving average is $71.20. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 1.87 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last released 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 quarter in the prior year, the business posted $0.90 EPS. As a group, analysts forecast that PC Connection will post 3.43 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.15 per share. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.60 annualized dividend and a yield of 0.91%. PC Connection’s dividend payout ratio (DPR) is presently 12.16%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a research report 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.