Jane Street Group LLC Buys 15,916 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Jane Street Group LLC grew its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 195.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,040 shares of the company's stock after buying an additional 15,916 shares during the quarter. Jane Street Group LLC owned 0.09% of PC Connection worth $1,813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CNXN. Point72 DIFC Ltd bought a new position in PC Connection during the 3rd quarter worth $28,000. Signaturefd LLC lifted its holdings 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 during the last quarter. CWM LLC boosted its stake in shares of PC Connection by 125.5% during the 3rd quarter. CWM LLC now owns 850 shares of the company's stock worth $64,000 after acquiring an additional 473 shares in the last quarter. Innealta Capital LLC acquired a new stake in PC Connection during the 2nd quarter worth about $60,000. Finally, nVerses Capital LLC grew its holdings in shares of PC Connection by 1,000.0% during the third 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 in the last quarter. Institutional investors own 42.85% of the company's stock.

Analyst Upgrades and Downgrades

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

PC Connection Stock Up 1.2 %

NASDAQ CNXN traded up $0.85 during trading on Thursday, hitting $70.47. The company's stock had a trading volume of 47,874 shares, compared to its average volume of 80,065. The firm has a 50 day moving average price of $71.62 and a 200 day moving average price of $70.00. PC Connection, Inc. has a 52 week low of $57.47 and a 52 week high of $77.19. The firm has a market cap of $1.85 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 2.14 and a beta of 0.66.

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. PC Connection's dividend payout ratio (DPR) is presently 11.73%.

Insiders Place Their Bets

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director now owns 71,750 shares of the company's stock, valued at approximately $5,022,500. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 56.50% 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.