PC Connection, Inc. (CNXN) CEO Timothy J. Mcgrath Sells 9,700 Shares
PC Connection, Inc. (NASDAQ:CNXN) CEO Timothy J. Mcgrath sold 9,700 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $26.85, for a total value of $260,445.00. Following the transaction, the chief executive officer now directly owns 207,207 shares in the company, valued at approximately $5,563,507.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
PC Connection, Inc. (NASDAQ CNXN) traded down $0.16 during trading on Tuesday, reaching $26.83. The company’s stock had a trading volume of 33,638 shares, compared to its average volume of 41,167. The firm has a market capitalization of $723.75, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.56 and a beta of 1.60. PC Connection, Inc. has a 12 month low of $23.52 and a 12 month high of $30.48.
PC Connection (NASDAQ:CNXN) last posted its earnings results on Thursday, October 26th. The company reported $0.49 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. The company had revenue of $729.23 million for the quarter, compared to analyst estimates of $727.84 million. PC Connection had a return on equity of 10.84% and a net margin of 1.63%. PC Connection’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. research analysts predict that PC Connection, Inc. will post 1.81 EPS for the current year.
A number of research analysts recently weighed in on the company. BidaskClub lowered PC Connection from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. ValuEngine lowered PC Connection from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research raised PC Connection from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 27th.
A number of institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP grew its holdings in PC Connection by 20.6% in the third quarter. GSA Capital Partners LLP now owns 25,914 shares of the company’s stock valued at $731,000 after purchasing an additional 4,418 shares during the last quarter. California Public Employees Retirement System acquired a new stake in shares of PC Connection during the third quarter valued at $275,000. Citadel Advisors LLC boosted its stake in shares of PC Connection by 13.5% during the third quarter. Citadel Advisors LLC now owns 28,265 shares of the company’s stock valued at $797,000 after acquiring an additional 3,361 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PC Connection by 141.7% during the third quarter. JPMorgan Chase & Co. now owns 10,501 shares of the company’s stock valued at $291,000 after acquiring an additional 6,157 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of PC Connection by 2.8% during the third quarter. Nordea Investment Management AB now owns 137,400 shares of the company’s stock valued at $3,873,000 after acquiring an additional 3,700 shares during the last quarter. 41.10% of the stock is currently owned by institutional investors.
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About PC Connection
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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