Short Interest in PC Connection, Inc. (NASDAQ:CNXN) Increases By 64.6%

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 370,800 shares, a growth of 64.6% from the February 13th total of 225,300 shares. Based on an average daily volume of 95,800 shares, the short-interest ratio is currently 3.9 days. Approximately 3.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On PC Connection

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new stake in shares of PC Connection in the 3rd quarter worth about $28,000. New Age Alpha Advisors LLC purchased a new stake in shares of PC Connection in the 4th quarter worth about $40,000. Public Employees Retirement System of Ohio boosted its position in shares of PC Connection by 143.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company's stock worth $77,000 after buying an additional 657 shares in the last quarter. Graham Capital Management L.P. acquired a new position in PC Connection in the 4th quarter valued at about $202,000. Finally, Intech Investment Management LLC acquired a new position in PC Connection in the 3rd quarter valued at about $243,000. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

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PC Connection Price Performance

Shares of NASDAQ CNXN traded up $0.85 during trading on Wednesday, hitting $62.67. 146,469 shares of the company were exchanged, compared to its average volume of 82,207. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.96 and a beta of 0.61. PC Connection has a 1 year low of $57.47 and a 1 year high of $77.19. The firm's fifty day moving average price is $67.08 and its 200 day moving average price is $70.22.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the business earned $0.90 EPS. On average, research analysts forecast that PC Connection will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were given a $0.15 dividend. The ex-dividend date was Tuesday, February 25th. This is a positive change from PC Connection's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. PC Connection's payout ratio is currently 18.24%.

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.