PC Connection, Inc. (NASDAQ:CNXN) Sees Significant Growth in Short Interest

PC Connection, Inc. (NASDAQ:CNXN) was the recipient of 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. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 95,800 shares, the days-to-cover ratio is currently 3.9 days.

PC Connection Price Performance

PC Connection stock traded up $0.72 during mid-day trading on Friday, reaching $60.51. 133,642 shares of the company traded hands, compared to its average volume of 103,966. The firm’s fifty day moving average is $67.43 and its two-hundred day moving average is $70.39. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. PC Connection has a fifty-two week low of $57.47 and a fifty-two week high of $77.19.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share 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 previous year, the company posted $0.90 EPS. As a group, equities research analysts predict that PC Connection will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Tuesday, February 25th. This is a boost from PC Connection’s previous quarterly dividend of $0.10. PC Connection’s dividend payout ratio (DPR) is 18.24%.

Analyst Ratings Changes

Separately, StockNews.com raised 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new stake in PC Connection during the third quarter worth about $28,000. New Age Alpha Advisors LLC acquired a new stake in PC Connection during the fourth quarter valued at $40,000. Public Employees Retirement System of Ohio increased its holdings in PC Connection by 143.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company’s stock valued at $77,000 after buying an additional 657 shares in the last quarter. Graham Capital Management L.P. acquired a new position in shares of PC Connection in the fourth quarter worth about $202,000. Finally, Intech Investment Management LLC purchased a new stake in shares of PC Connection during the 3rd quarter worth about $243,000. 42.85% of the stock is owned by institutional investors and hedge funds.

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.