PC Connection, Inc. (NASDAQ:CNXN) Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management lifted its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 64.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,380 shares of the company’s stock after purchasing an additional 2,897 shares during the quarter. Picton Mahoney Asset Management’s holdings in PC Connection were worth $511,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in shares of PC Connection in the 3rd quarter worth approximately $28,000. Intech Investment Management LLC acquired a new stake in PC Connection in the third quarter worth approximately $243,000. Amalgamated Bank boosted its stake in PC Connection by 4.6% during the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after purchasing an additional 154 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of PC Connection by 6.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock valued at $452,000 after purchasing an additional 390 shares during the period. Finally, Ieq Capital LLC raised its stake in shares of PC Connection by 3.5% in the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock worth $457,000 after buying an additional 224 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Price Performance

Shares of CNXN opened at $60.51 on Monday. PC Connection, Inc. has a 12-month low of $57.47 and a 12-month high of $77.19. The stock has a market capitalization of $1.58 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.96 and a beta of 0.61. The firm’s 50 day moving average is $67.43 and its 200-day moving average is $70.38.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, equities research analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.99%. The ex-dividend date was Tuesday, February 25th. This is an increase from PC Connection’s previous quarterly dividend of $0.10. PC Connection’s payout ratio is presently 18.24%.

Analyst Upgrades and Downgrades

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

PC Connection 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.