Jane Street Group LLC Boosts Stake in PC Connection, Inc. (NASDAQ:CNXN)

Jane Street Group LLC raised its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 195.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,040 shares of the company’s stock after acquiring an additional 15,916 shares during the quarter. Jane Street Group LLC’s holdings in PC Connection were worth $1,813,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. State Street Corp increased its position in shares of PC Connection by 7.4% in the third quarter. State Street Corp now owns 495,611 shares of the company’s stock worth $37,384,000 after purchasing an additional 34,248 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of PC Connection in the 3rd quarter worth $28,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of PC Connection during the 3rd quarter valued at $3,675,000. Martingale Asset Management L P raised its position in shares of PC Connection by 0.4% during the 3rd quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock valued at $2,798,000 after buying an additional 140 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of PC Connection by 5.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 26,242 shares of the company’s stock worth $1,979,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

PC Connection Trading Down 0.8 %

Shares of NASDAQ CNXN opened at $69.62 on Thursday. The stock’s 50-day moving average is $71.73 and its 200 day moving average is $70.00. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.14 and a beta of 0.66. PC Connection, Inc. has a 1-year low of $57.47 and a 1-year high of $77.19.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Insider Transactions at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director now owns 71,750 shares in the company, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 56.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised PC Connection from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th.

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.