PC Connection, Inc. (CNXN) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 74.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,449 shares of the company’s stock after selling 22,031 shares during the quarter. GSA Capital Partners LLP’s holdings in PC Connection were worth $221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CNXN. Quantamental Technologies LLC purchased a new stake in shares of PC Connection during the 4th quarter worth $39,000. PNC Financial Services Group Inc. lifted its stake in shares of PC Connection by 11.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,075 shares of the company’s stock worth $91,000 after purchasing an additional 318 shares during the last quarter. Citigroup Inc. lifted its stake in shares of PC Connection by 17.6% during the 4th quarter. Citigroup Inc. now owns 3,702 shares of the company’s stock worth $110,000 after purchasing an additional 554 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of PC Connection during the 3rd quarter worth $255,000. Finally, MetLife Investment Advisors LLC lifted its stake in shares of PC Connection by 63.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 8,755 shares of the company’s stock worth $340,000 after purchasing an additional 3,389 shares during the last quarter. Hedge funds and other institutional investors own 41.50% of the company’s stock.

In other news, Director Negrini David Beffa sold 12,300 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $40.14, for a total value of $493,722.00. Following the completion of the transaction, the director now directly owns 109,500 shares in the company, valued at $4,395,330. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack L. Ferguson sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $41.65, for a total value of $124,950.00. Following the completion of the transaction, the director now owns 87,680 shares of the company’s stock, valued at $3,651,872. The disclosure for this sale can be found here. Company insiders own 57.10% of the company’s stock.

CNXN has been the subject of a number of analyst reports. Zacks Investment Research upgraded PC Connection from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Friday, February 8th. Sidoti cut PC Connection from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a research note on Friday, February 15th. BidaskClub cut PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, ValuEngine cut PC Connection from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.33.

PC Connection stock traded down $0.39 during midday trading on Monday, reaching $36.22. The company’s stock had a trading volume of 48,468 shares, compared to its average volume of 69,098. PC Connection, Inc. has a 52-week low of $26.02 and a 52-week high of $43.05. The stock has a market cap of $965.04 million, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. PC Connection had a return on equity of 12.41% and a net margin of 2.39%. The company had revenue of $709.50 million during the quarter, compared to analysts’ expectations of $693.49 million. During the same period last year, the business posted $0.77 earnings per share. The firm’s revenue was down 6.9% compared to the same quarter last year. Equities research analysts predict that PC Connection, Inc. will post 2.44 EPS for the current fiscal year.

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PC Connection Company 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.

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Institutional Ownership by Quarter for PC Connection (NASDAQ:CNXN)

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