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

PC Connection, Inc. (NASDAQ:CNXN) 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) 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

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

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.

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.