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

PC Connection, Inc. (NASDAQ:CNXN) was the recipient of a significant growth in short interest during the month of 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 shares are short sold. Based on an average daily volume of 95,800 shares, the days-to-cover ratio is currently 3.9 days.

Analyst Ratings Changes

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

PC Connection Price Performance

Shares of NASDAQ:CNXN opened at $60.51 on Monday. The company has a market capitalization of $1.58 billion, a PE ratio of 18.39, a PEG 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. The business has a fifty day moving average price of $67.43 and a 200-day moving average price of $70.38.

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 analysts’ consensus estimates 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 previous year, the company earned $0.90 earnings per share. On average, sell-side analysts anticipate that PC Connection will post 3.33 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were paid a dividend of $0.15 per share. 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 18.24%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Martingale Asset Management L P grew its stake in shares of PC Connection by 0.4% during the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock valued at $2,798,000 after buying an additional 140 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of PC Connection by 4.6% during the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after purchasing an additional 154 shares during the last quarter. Ieq Capital LLC grew its position 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 purchasing an additional 224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $456,000 after purchasing an additional 234 shares during the period. Finally, EntryPoint Capital LLC increased its stake in shares of PC Connection by 8.3% in the fourth quarter. EntryPoint Capital LLC now owns 3,220 shares of the company’s stock worth $223,000 after acquiring an additional 248 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

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.