PC Connection, Inc. (NASDAQ:CNXN – Get Free Report) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 370,800 shares, an increase of 64.6% from the February 13th total of 225,300 shares. Based on an average daily trading volume, of 95,800 shares, the short-interest ratio is currently 3.9 days. Approximately 3.7% of the shares of the stock are short sold.
PC Connection Stock Up 1.2 %
CNXN traded up $0.72 on Friday, hitting $60.51. The company had a trading volume of 133,642 shares, compared to its average volume of 103,966. PC Connection has a 12-month low of $57.47 and a 12-month high of $77.19. The business’s fifty day simple moving average is $67.43 and its 200 day simple moving average is $70.39. The company has a market cap of $1.58 billion, a PE ratio of 18.39, a PEG ratio of 1.96 and a beta of 0.61.
PC Connection (NASDAQ:CNXN – Get Free Report) last released its 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 earnings per share. On average, analysts anticipate that PC Connection will post 3.33 earnings per share for the current fiscal year.
PC Connection Increases Dividend
Hedge Funds Weigh In On PC Connection
A number of hedge funds have recently added to or reduced their stakes in CNXN. Martingale Asset Management L P grew 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 worth $2,798,000 after purchasing an additional 140 shares in the last quarter. Amalgamated Bank raised its holdings in shares of 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 in the last quarter. Ieq Capital LLC grew its holdings in PC Connection by 3.5% during the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock worth $457,000 after acquiring an additional 224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PC Connection by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,588 shares of the company’s stock valued at $456,000 after purchasing an additional 234 shares during the period. Finally, EntryPoint Capital LLC boosted its position 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. 42.85% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of PC Connection from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.
Get Our Latest Report on PC Connection
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.
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