Algert Global LLC Makes New Investment in PC Connection, Inc. (NASDAQ:CNXN)

Algert Global LLC purchased a new stake in PC Connection, Inc. (NASDAQ:CNXN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,620 shares of the company’s stock, valued at approximately $650,000.

A number of other large investors have also made changes to their positions in CNXN. Signaturefd LLC grew its stake in PC Connection by 328.1% in the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after acquiring an additional 374 shares during the period. Innealta Capital LLC bought a new stake in PC Connection during the 2nd quarter worth approximately $60,000. CWM LLC increased its stake in PC Connection by 125.5% during the 3rd quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after purchasing an additional 473 shares in the last quarter. nVerses Capital LLC raised its holdings in PC Connection by 1,000.0% during the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $83,000 after buying an additional 1,000 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in PC Connection by 15,593.3% in the first quarter. Lazard Asset Management LLC now owns 2,354 shares of the company’s stock valued at $155,000 after buying an additional 2,339 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.

Insider Transactions at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director now directly owns 71,750 shares in the company, valued at $5,022,500. This represents a 6.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 56.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a report on Thursday.

PC Connection Price Performance

Shares of PC Connection stock opened at $72.58 on Friday. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63. PC Connection, Inc. has a one year low of $57.47 and a one year high of $77.19. The stock’s 50-day moving average is $72.18 and its 200-day moving average is $69.30.

PC Connection Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is currently 11.73%.

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.