PC Connection (NASDAQ:CNXN) Shares Gap Down - Should You Sell?

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $73.20, but opened at $71.20. PC Connection shares last traded at $72.78, with a volume of 1,081 shares traded.

Analysts Set New Price Targets

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

PC Connection Trading Up 0.5 %

The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.67. The stock's 50 day moving average is $71.71 and its two-hundred day moving average is $71.37.

Insider Buying and Selling at PC Connection

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 transaction of $350,000.00. Following the completion of the sale, the director now directly owns 71,750 shares in the company, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 56.50% of the company's stock.

Hedge Funds Weigh In On PC Connection

A number of hedge funds have recently added to or reduced their stakes in the stock. Martingale Asset Management L P increased its position in PC Connection by 0.4% in the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company's stock worth $2,798,000 after buying an additional 140 shares during the last quarter. Amalgamated Bank raised its position in PC Connection by 4.6% in the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company's stock worth $266,000 after purchasing an additional 154 shares during the period. New York State Teachers Retirement System lifted its position in PC Connection by 4.9% in the third quarter. New York State Teachers Retirement System now owns 4,613 shares of the company's stock valued at $348,000 after purchasing an additional 216 shares during the last quarter. Ieq Capital LLC increased its holdings in PC Connection by 3.5% during the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company's stock valued at $457,000 after purchasing an additional 224 shares during the period. Finally, Rhumbline Advisers increased its position in shares of PC Connection by 0.4% during the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company's stock valued at $5,918,000 after buying an additional 298 shares during the period. Institutional investors and hedge funds own 42.85% 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.