EntryPoint Capital LLC Raises Holdings in PC Connection, Inc. (NASDAQ:CNXN)

EntryPoint Capital LLC boosted its stake in PC Connection, Inc. (NASDAQ:CNXN) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,220 shares of the company’s stock after purchasing an additional 248 shares during the period. EntryPoint Capital LLC’s holdings in PC Connection were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Martingale Asset Management L P increased its stake in shares of PC Connection by 0.4% in the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock worth $2,798,000 after buying an additional 140 shares during the period. Ieq Capital LLC grew its holdings in PC Connection by 3.5% in the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock worth $457,000 after acquiring an additional 224 shares during the last quarter. Rhumbline Advisers increased its position in shares of PC Connection by 0.4% in the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock valued at $5,918,000 after acquiring an additional 298 shares during the period. Point72 DIFC Ltd bought a new position in shares of PC Connection during the third quarter valued at about $28,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of PC Connection by 6.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock worth $452,000 after purchasing an additional 390 shares during the period. Institutional investors own 42.85% of the company’s stock.

PC Connection Price Performance

NASDAQ CNXN opened at $61.93 on Friday. The business’s 50-day moving average is $65.85 and its 200 day moving average is $69.79. The stock has a market capitalization of $1.62 billion, a PE ratio of 18.82, a PEG ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a 1 year low of $57.47 and a 1 year high of $77.19.

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

PC Connection Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.97%. This is a boost from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, February 25th. PC Connection’s dividend payout ratio (DPR) is currently 18.24%.

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.