GAMMA Investing LLC Increases Stock Position in PC Connection, Inc. (NASDAQ:CNXN)

GAMMA Investing LLC increased its position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 26,952.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,264 shares of the company's stock after buying an additional 134,764 shares during the period. GAMMA Investing LLC owned about 0.52% of PC Connection worth $8,443,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CNXN. New Age Alpha Advisors LLC acquired a new position in shares of PC Connection in the fourth quarter valued at approximately $40,000. Public Employees Retirement System of Ohio raised its position in shares of 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 during the last quarter. Graham Capital Management L.P. acquired a new position in shares of PC Connection in the fourth quarter valued at approximately $202,000. EntryPoint Capital LLC increased its position in PC Connection by 8.3% during the fourth quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock worth $223,000 after purchasing an additional 248 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in PC Connection during the fourth quarter worth approximately $243,000. Institutional investors and hedge funds own 42.85% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of PC Connection from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 9th.

PC Connection Price Performance

CNXN stock traded down $0.66 on Wednesday, hitting $65.12. 196,926 shares of the company were exchanged, compared to its average volume of 99,769. PC Connection, Inc. has a twelve month low of $56.82 and a twelve month high of $77.19. The business's fifty day moving average is $64.50 and its two-hundred day moving average is $66.80. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.96 and a beta of 0.70.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.42 by $0.18. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. The firm had revenue of $701.05 million during the quarter, compared to analyst estimates of $646.37 million. Equities research analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Tuesday, May 13th. PC Connection's payout ratio is currently 18.18%.

Insider Transactions at PC Connection

In other news, Director Jack L. Ferguson sold 1,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $66.32, for a total value of $66,320.00. Following the completion of the sale, the director now owns 66,055 shares of the company's stock, valued at $4,380,767.60. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy J. Mcgrath sold 26,565 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.80, for a total transaction of $1,774,542.00. Following the completion of the transaction, the chief executive officer now owns 265,827 shares of the company's stock, valued at $17,757,243.60. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,005 shares of company stock valued at $2,205,614 over the last 90 days. Corporate insiders own 55.20% 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.