Jane Street Group LLC Buys 15,916 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Jane Street Group LLC boosted its stake in PC Connection, Inc. (NASDAQ:CNXN) by 195.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,040 shares of the company’s stock after acquiring an additional 15,916 shares during the period. Jane Street Group LLC owned 0.09% of PC Connection worth $1,813,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of PC Connection by 23.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock worth $80,781,000 after purchasing an additional 240,312 shares during the period. State Street Corp raised its stake 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 valued at $37,384,000 after buying an additional 34,248 shares during the period. American Century Companies Inc. lifted its position in shares of PC Connection by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock valued at $16,884,000 after buying an additional 62,398 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PC Connection by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company’s stock valued at $18,467,000 after buying an additional 10,925 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of PC Connection by 34.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 139,892 shares of the company’s stock worth $10,552,000 after acquiring an additional 35,505 shares during the period. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

PC Connection Trading Down 0.8 %

CNXN opened at $69.62 on Thursday. PC Connection, Inc. has a 12 month low of $57.47 and a 12 month high of $77.19. The company has a market cap of $1.83 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 2.14 and a beta of 0.66. The company has a 50 day moving average of $71.73 and a 200 day moving average of $70.00.

PC Connection Announces Dividend

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

Insider Activity at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the sale, the director now owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. This represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 56.50% of the stock is currently owned by corporate insiders.

PC Connection 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.