GSA Capital Partners LLP purchased a new stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,836 shares of the company's stock, valued at approximately $591,000.
Other hedge funds also recently modified their holdings of the company. Signaturefd LLC increased its position in PC Connection by 328.1% in the 3rd quarter. Signaturefd LLC now owns 488 shares of the company's stock valued at $37,000 after acquiring an additional 374 shares in the last quarter. CWM LLC raised its position in PC Connection by 125.5% in the 3rd quarter. CWM LLC now owns 850 shares of the company's stock worth $64,000 after purchasing an additional 473 shares during the last quarter. Innealta Capital LLC acquired a new position in PC Connection during the 2nd quarter worth $60,000. nVerses Capital LLC boosted its position in PC Connection by 1,000.0% in the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company's stock valued at $83,000 after buying an additional 1,000 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of PC Connection by 15,593.3% in the 1st quarter. Lazard Asset Management LLC now owns 2,354 shares of the company's stock valued at $155,000 after buying an additional 2,339 shares during the period. Institutional investors and hedge funds own 42.85% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com upgraded PC Connection from a "buy" rating to a "strong-buy" rating in a report on Thursday, August 29th.
Read Our Latest Analysis on PC Connection
PC Connection Stock Performance
NASDAQ CNXN traded up $0.19 during trading hours on Tuesday, reaching $69.89. 35,079 shares of the company's stock were exchanged, compared to its average volume of 80,514. PC Connection, Inc. has a one year low of $57.47 and a one year high of $77.19. The company's 50-day moving average is $72.27 and its two-hundred day moving average is $68.88. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63.
PC Connection Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. PC Connection's payout ratio is 11.73%.
PC Connection Company Profile
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Free Report)
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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