PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP cut its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 61.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,668 shares of the company's stock after selling 5,896 shares during the period. Two Sigma Investments LP's holdings in PC Connection were worth $254,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CNXN. New Age Alpha Advisors LLC purchased a new stake in shares of PC Connection in the 4th quarter worth $40,000. Graham Capital Management L.P. purchased a new stake in shares of PC Connection in the 4th quarter worth $202,000. EntryPoint Capital LLC increased its stake in shares of PC Connection by 8.3% in the 4th quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock worth $223,000 after purchasing an additional 248 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of PC Connection in the 4th quarter worth $243,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of PC Connection in the 4th quarter worth $282,000. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Price Performance

Shares of PC Connection stock traded down $1.59 during trading on Friday, reaching $62.91. 76,684 shares of the stock traded hands, compared to its average volume of 99,953. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.96 and a beta of 0.70. The business has a fifty day simple moving average of $64.68 and a two-hundred day simple moving average of $66.67. PC Connection, Inc. has a 52-week low of $56.82 and a 52-week high of $77.19.

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

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Tuesday, May 13th. PC Connection's dividend payout ratio (DPR) is presently 18.18%.

Insider Transactions at PC Connection

In related news, Director Jack L. Ferguson sold 1,000 shares of PC Connection stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $66.32, for a total transaction of $66,320.00. Following the transaction, the director now directly owns 66,055 shares of the company's stock, valued at $4,380,767.60. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy J. Mcgrath sold 5,440 shares of PC Connection stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $67.05, for a total transaction of $364,752.00. Following the transaction, the chief executive officer now directly owns 260,387 shares in the company, valued at approximately $17,458,948.35. The trade was a 2.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,005 shares of company stock valued at $2,205,614. 55.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.