Los Angeles Capital Management LLC Reduces Position in PC Connection, Inc. (NASDAQ:CNXN)

Los Angeles Capital Management LLC reduced its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 56.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,491 shares of the company’s stock after selling 23,554 shares during the period. Los Angeles Capital Management LLC owned approximately 0.07% of PC Connection worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truist Financial Corp purchased a new position in PC Connection in the 4th quarter worth approximately $352,000. Louisiana State Employees Retirement System purchased a new position in PC Connection during the fourth quarter worth approximately $383,000. Arizona State Retirement System acquired a new position in PC Connection during the fourth quarter worth $222,000. Pacer Advisors Inc. grew its holdings in PC Connection by 65.0% in the 4th quarter. Pacer Advisors Inc. now owns 672,203 shares of the company’s stock valued at $45,179,000 after buying an additional 264,687 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of PC Connection by 50.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 17,313 shares of the company’s stock worth $1,164,000 after acquiring an additional 5,806 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

PC Connection Stock Performance

CNXN opened at $63.75 on Thursday. The stock has a market capitalization of $1.68 billion, a PE ratio of 20.43, a P/E/G ratio of 1.83 and a beta of 0.67. PC Connection, Inc. has a one year low of $38.48 and a one year high of $70.55. The business’s 50 day moving average price is $64.26 and its 200 day moving average price is $63.69.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $632.03 million for the quarter, compared to analysts’ expectations of $694.19 million. PC Connection had a return on equity of 10.10% and a net margin of 2.98%. During the same quarter in the prior year, the company posted $0.56 earnings per share. As a group, equities research analysts forecast that PC Connection, Inc. will post 3.35 earnings per share for the current fiscal year.

PC Connection Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Tuesday, May 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, May 13th. PC Connection’s dividend payout ratio (DPR) is 12.82%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th.

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.