Mawer Investment Cuts PC Connection Stake to 4.5%

TL;DR

**Mawer Investment just trimmed its stake in PC Connection, now holding 4.5% of shares.**

AI Summary

Mawer Investment Management Ltd. filed an amendment to its Schedule 13G, reporting its beneficial ownership in PC Connection, Inc. as of December 31, 2023. The Canadian investment firm now holds 1,189,469 shares, representing 4.5% of PC Connection's common stock. This is a decrease from their previous reported stake, indicating they have sold a portion of their holdings. This matters to investors because a significant institutional investor reducing its stake could signal a less optimistic outlook on the company's future performance.

Why It Matters

A reduction in ownership by a major institutional investor like Mawer Investment Management Ltd. can be interpreted as a lack of confidence, potentially influencing other investors' decisions and the stock's price.

Risk Assessment

Risk Level: medium — The reduction in ownership by an institutional investor could indicate a perceived increase in risk or a less favorable outlook for PC Connection, Inc.

Analyst Insight

Investors should monitor PC Connection's upcoming earnings reports and news for any further institutional selling or changes in company fundamentals that might explain Mawer's reduced stake. It might be prudent to re-evaluate one's own position in the stock.

Key Numbers

• 1,189,469 — Shares Beneficially Owned (This is the total number of shares Mawer Investment Management Ltd. holds in PC Connection, Inc.)
• 4.5% — Percentage of Class (This represents the proportion of PC Connection's common stock that Mawer Investment Management Ltd. now owns.)

Key Players & Entities

• Mawer Investment Management Ltd. (company) — the reporting person, a Canadian investment firm
• PC Connection, Inc. (company) — the subject company whose shares are being reported
• 1,189,469 (dollar_amount) — number of shares beneficially owned by Mawer
• 4.5% (dollar_amount) — percentage of PC Connection's common stock owned by Mawer
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• PC Connection's stock price may experience downward pressure in the short term. (PC Connection, Inc.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• cnxn13ga4q2022.htm (SC 13G/A) — 105KB
• 0000945621-24-000169.txt ( ) — 107KB

From the Filing

SC 13G/A 1 cnxn13ga4q2022.htm AMENDMENT NO. 3 TO SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 3) PC CONNECTION, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 69318J100 (CUSIP Number) December 31, 2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) CUSIP No. Page 2 of 5 Pages 69318J100 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Mawer Investment Management Ltd. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Canada NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 1,189,469 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 1,189,469 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,189,469 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.53% (1) 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) Investment Advisor (1) Based upon 26,271,521 shares of Common Stock of PC Connection, Inc. (the "Issuer") outstanding as of October 25, 2023 as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on November 1, 2023. CUSIP No. Page 3 of 5 Pages 69318J100 Item 1. (a) Name of Issuer: PC Connection, Inc. (b) Address of Issuer's Principal Executive Offices: Route 101A, 730 Milford Road Merrimack, New Hampshire, 03054 Item 2. (a) Name of Persons Filing: Mawer Investment Management Ltd. (b) Address of Principal Business Office or, if none, Residence : 600, 517 – 10th Avenue SW Calgary, Alberta, Canada T2R 0A8 (c) Citizenship: Canada (d) Title of Class of Securities: Common Stock (e) CUSIP Number: 69318J100 Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act. (b) [ ] Bank as defined in Section 3(a)(6) of the Act. (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act. (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940. (e) [X] An investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E). (f) [ ] An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F). (g) [ ] A parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G). (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act. (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940. CUSIP No. Page 4 of 5 Pages 69318J100 (j) [ ] A non-U.S. institution in accordance with Section 240.13d-1(b)(1) (ii)(J). (k) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution: _____________________________________________ Item 4. (a) Amount Beneficially Owned: 1,189,469 (b) Percent of Class: 4.53% (c) Number of Shares as to which the person has: (i) sole power to vote or to direct the vote: 1,189,469 (ii) shared power to vote or direct the vote: 0 (iii) sole power to dispose or direct the disposition of: 1,189,469 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: Item 6. Not Applicable CUSIP No. Page 5 of 5 Pages 69318J100 Item 7. Identification and Classification of Subsidiaries Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not Applicable Item 8. Identification and Classification of Members of the Group. Not Applicable Item 9. Notice of Dissolution of Group. Not Applicable Item 10. Certification: By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Da

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