Hotchkis & Wiley Capital Management LLC Buys Shares of 48,720 PC Connection, Inc. (NASDAQ:CNXN)

Hotchkis & Wiley Capital Management LLC bought a new position in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 48,720 shares of the company's stock, valued at approximately $3,675,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.19% of PC Connection at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CNXN. Signaturefd LLC grew its position in shares of 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 buying an additional 374 shares during the last quarter. CWM LLC increased its position in PC Connection by 125.5% during the 3rd quarter. CWM LLC now owns 850 shares of the company's stock worth $64,000 after purchasing an additional 473 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of PC Connection during the 2nd quarter worth $60,000. nVerses Capital LLC grew its holdings in PC Connection by 1,000.0% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company's stock valued at $83,000 after purchasing an additional 1,000 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of PC Connection in the 3rd quarter worth about $243,000. Institutional investors and hedge funds own 42.85% of the company's stock.

PC Connection Stock Performance

Shares of NASDAQ CNXN traded up $0.24 during mid-day trading on Friday, reaching $73.51. The company had a trading volume of 45,782 shares, compared to its average volume of 79,543. The stock has a market capitalization of $1.93 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66. The stock's 50 day moving average is $72.09 and its 200-day moving average is $69.54. PC Connection, Inc. has a twelve month low of $57.47 and a twelve month high of $77.19.

PC Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. PC Connection's payout ratio is 11.73%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the director now directly owns 71,750 shares of the company's stock, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 56.90% of the company's stock.

About PC Connection

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.