Magnetar Financial LLC Buys New Shares in PC Connection, Inc. (NASDAQ:CNXN)

Magnetar Financial LLC acquired a new position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,465 shares of the company's stock, valued at approximately $448,000.

Several other institutional investors have also recently added to or reduced their stakes in CNXN. Victory Capital Management Inc. lifted its stake in shares of PC Connection by 27.5% in the third quarter. Victory Capital Management Inc. now owns 47,772 shares of the company's stock valued at $3,603,000 after buying an additional 10,314 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in PC Connection by 20.5% during the third quarter. Thrivent Financial for Lutherans now owns 11,338 shares of the company's stock worth $855,000 after buying an additional 1,927 shares during the last quarter. Intech Investment Management LLC bought a new stake in PC Connection in the third quarter worth about $243,000. Charles Schwab Investment Management Inc. grew its position in shares of PC Connection by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company's stock valued at $18,467,000 after acquiring an additional 10,925 shares during the period. Finally, Algert Global LLC purchased a new position in PC Connection in the third quarter valued at approximately $650,000. 42.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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PC Connection Stock Performance

NASDAQ CNXN traded up $0.06 during trading on Thursday, hitting $62.83. 96,841 shares of the company's stock traded hands, compared to its average volume of 86,416. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a 12-month low of $57.47 and a 12-month high of $77.19. The business has a 50 day moving average of $66.19 and a 200-day moving average of $69.89.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.78 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 company earned $0.90 earnings per share. On average, analysts expect that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were given a $0.15 dividend. This is a positive change from PC Connection's previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Tuesday, February 25th. PC Connection's dividend payout ratio (DPR) is 18.24%.

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.