PC Connection, Inc. (NASDAQ:PCCC) investors should pay attention to an increase in support from the world’s most elite money managers recently.
At the moment, there are plenty of methods investors can use to watch the equity markets. A couple of the most underrated are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best fund managers can outpace their index-focused peers by a superb margin (see just how much).
Equally as integral, bullish insider trading activity is another way to parse down the marketplace. As the old adage goes: there are a variety of stimuli for an insider to downsize shares of his or her company, but just one, very clear reason why they would behave bullishly. Plenty of academic studies have demonstrated the useful potential of this strategy if shareholders understand where to look (learn more here).
Consequently, we’re going to take a look at the key action encompassing PC Connection, Inc. (NASDAQ:PCCC).
How are hedge funds trading PC Connection, Inc. (NASDAQ:PCCC)?
At the end of the first quarter, a total of 8 of the hedge funds we track held long positions in this stock, a change of 60% from the previous quarter. With the smart money’s capital changing hands, there exists an “upper tier” of notable hedge fund managers who were upping their holdings meaningfully.
According to our comprehensive database, Chuck Royce’s Royce & Associates had the biggest position in PC Connection, Inc. (NASDAQ:PCCC), worth close to $2.8 million, accounting for less than 0.1%% of its total 13F portfolio. On Royce & Associates’s heels is Joel Greenblatt of Gotham Asset Management, with a $1.2 million position; 0.1% of its 13F portfolio is allocated to the company. Some other peers with similar optimism include Jim Simons’s Renaissance Technologies, Ken Griffin’s Citadel Investment Group and Israel Englander’s Millennium Management.
Consequently, key hedge funds have jumped into PC Connection, Inc. (NASDAQ:PCCC) headfirst. Citadel Investment Group, managed by Ken Griffin, assembled the largest position in PC Connection, Inc. (NASDAQ:PCCC). Citadel Investment Group had 0.5 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made a $0.3 million investment in the stock during the quarter. The other funds with brand new PCCC positions are Peter Algert and Kevin Coldiron’s Algert Coldiron Investors and Neil Chriss’s Hutchin Hill Capital.
How have insiders been trading PC Connection, Inc. (NASDAQ:PCCC)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company in focus has seen transactions within the past six months. Over the latest six-month time frame, PC Connection, Inc. (NASDAQ:PCCC) has experienced zero unique insiders buying, and 4 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to PC Connection, Inc. (NASDAQ:PCCC). These stocks are Liquidity Services, Inc. (NASDAQ:LQDT), Vitacost.com, Inc. (NASDAQ:VITC), Overstock.com, Inc. (NASDAQ:OSTK), E Commerce China Dangdang Inc (ADR) (NYSE:DANG), and Stamps.com Inc. (NASDAQ:STMP). All of these stocks are in the catalog & mail order houses industry and their market caps resemble PCCC’s market cap.
