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Los Angeles Capital Management LLC Sells 6,393 Shares of PC Connection, Inc. (NASDAQ:CNXN)

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Los Angeles Capital Management LLC lowered its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 31.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,717 shares of the company's stock after selling 6,393 shares during the quarter. Los Angeles Capital Management LLC owned about 0.05% of PC Connection worth $950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNXN. Hotchkis & Wiley Capital Management LLC bought a new position in shares of PC Connection in the third quarter worth about $3,675,000. State Street Corp grew its holdings in PC Connection by 7.4% in the 3rd quarter. State Street Corp now owns 495,611 shares of the company's stock valued at $37,384,000 after buying an additional 34,248 shares during the last quarter. Geode Capital Management LLC increased its position in PC Connection by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company's stock worth $26,113,000 after buying an additional 23,358 shares during the period. Barclays PLC lifted its holdings in shares of PC Connection by 178.7% during the third quarter. Barclays PLC now owns 36,002 shares of the company's stock worth $2,717,000 after buying an additional 23,084 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of PC Connection by 195.9% in the third quarter. Jane Street Group LLC now owns 24,040 shares of the company's stock valued at $1,813,000 after acquiring an additional 15,916 shares during the period. Institutional investors and hedge funds own 42.85% of the company's stock.

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PC Connection Stock Performance

Shares of CNXN traded up $0.94 during trading hours on Wednesday, reaching $64.19. 124,607 shares of the company traded hands, compared to its average volume of 99,462. PC Connection, Inc. has a 1-year low of $57.47 and a 1-year high of $77.19. The stock has a market cap of $1.68 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The stock's fifty day moving average is $68.54 and its 200 day moving average is $70.85.

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

PC Connection Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.93%. The ex-dividend date is Tuesday, February 25th. This is a positive change from PC Connection's previous quarterly dividend of $0.10. PC Connection's payout ratio is 18.24%.

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.

Get Our Latest Analysis on CNXN

About PC Connection

(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.

Further Reading

Institutional Ownership by Quarter for PC Connection (NASDAQ:CNXN)

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