() saw a significant increase in short interest during April. On April 30, there were 238,300 short shares, an increase of 45.4% over the 163,900 total shares on April 15. The short-interest rate is currently 3.6 due to an average daily volume 66,300. Short-selling is currently 2.1% of shares.
Analyst Upgrades and downgrades
In a report published on Thursday 16th March, a research firm began covering PC Connection. On Friday, the stock rose $0.26 to $42.12. Stock of the company traded 53,285 shares compared to an average of 63 565. The market capitalization is $1.11billion, the PE ratio is 13.63 and beta is 0.77. The company's 50-day moving average is $42.56. Its 200-day moving average is $46.84. PC Connection's 1 year low is $37.76, and its 1 year high is $56.68.
The last time the company released its quarterly earnings was on Thursday, 9th February. The company's $0.71 per share earnings for the quarter fell short of the consensus estimate ($0.04). PC Connection's return on equity was 10.86%, and its net margin was 2.66%. The company's revenue for the quarter was $732.45 millions, which is lower than the consensus estimate ($755.28 million). Analysts expect PC Connection to post an average of 2.92 earnings per shares for the current fiscal.
PC Connection Announces Dividend
Recently, the business announced a quarterly distribution that will be paid out on Friday, 2nd June. Dividends will be paid to shareholders who were in the record books on May 16th. This is a $0.32 dividend annualized and a dividend rate of 0.76 percent. This dividend will be ex-dividend on Monday, May 15. PC Connection's current dividend payout ratio is 10.36%.
PC Connection: Institutional Trading
CNXN has seen a number of hedge fund positions change recently. Coppell Advisory Solutions Corp. bought a new stake of about $25,000 in PC Connection at the end of the fourth quarter. Point72 Middle Eastern FZE acquired a new stake in PC Connection shares during the fourth quarter, valued at approximately $28,000. Russell Investments Group Ltd. bought a new share of PC Connection in the first quarter worth about $28,000. Tower Research Capital LLC TRC increased its PC Connection position by 62.4% during the third quarter. Tower Research Capital LLC TRC owns 755 of the company’s shares worth $35,000, after purchasing an additional 290 during the last quarterly. Lazard Asset Management LLC increased its stake in PC Connection in the third-quarter by 55.8%. Lazard Asset Management LLC owns now 1,025 shares worth $46,000, after purchasing an additional 367 in the last quarter. Institutional investors own 42.5% of the company's stock.
About PC Connection
PC Connection, Inc., along with its subsidiaries, offers a variety of IT solutions. The company is divided into three segments, Business Solutions, Enterprise Solutions and Public Sector Solutions. The company offers IT products such as computer systems and software, peripheral equipment and networking communication, and other accessories.
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