PC Connection, Inc. (NASDAQ:CNXN) Short Interest Up 64.6% in February

PC Connection, Inc. (NASDAQ:CNXN) was the target of a large 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. Based on an average trading volume of 95,800 shares, the short-interest ratio is presently 3.9 days. Approximately 3.7% of the shares of the company are short sold.

PC Connection Trading Up 1.2 %

Shares of NASDAQ CNXN opened at $60.51 on Monday. The company has a 50-day moving average of $67.43 and a two-hundred day moving average of $70.38. The company has a market cap of $1.58 billion, a PE ratio of 18.39, a P/E/G ratio of 1.96 and a beta of 0.61. PC Connection has a 1-year low of $57.47 and a 1-year high of $77.19.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings data 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 net margin of 3.11% and a return on equity of 9.74%. During the same period in the prior year, the firm posted $0.90 EPS. As a group, equities research analysts forecast 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. Shareholders of record on Tuesday, February 25th were issued a $0.15 dividend. This is a boost from PC Connection’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Tuesday, February 25th. PC Connection’s dividend payout ratio is currently 18.24%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On PC Connection

A number of hedge funds have recently bought and sold shares of CNXN. Martingale Asset Management L P increased its holdings in PC Connection by 0.4% in the 3rd quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock worth $2,798,000 after purchasing an additional 140 shares in the last quarter. Amalgamated Bank increased its position in PC Connection by 4.6% in the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock worth $266,000 after buying an additional 154 shares during the last quarter. Ieq Capital LLC increased its stake in shares of PC Connection by 3.5% in the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock worth $457,000 after purchasing an additional 224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 worth $456,000 after acquiring an additional 234 shares during the period. Finally, EntryPoint Capital LLC grew its holdings 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 buying an additional 248 shares in the last quarter. 42.85% of the stock is owned by institutional investors.

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.