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

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.

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.