Steel Partners Holdings L.P. Purchases 18,605 Shares of Steel Connect, Inc. (NASDAQ:STCN) Stock

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. acquired 18,605 shares of the stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $8.93 per share, with a total value of $166,142.65. Following the transaction, the director now directly owns 88,147 shares in the company, valued at $787,152.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Steel Partners Holdings L.P. also recently made the following trade(s):

• On Friday, April 12th, Steel Partners Holdings L.P. purchased 6 shares of Steel Connect stock. The stock was acquired at an average price of $9.35 per share, with a total value of $56.10.

Steel Connect Stock Performance

Shares of STCN stock opened at $10.52 on Friday. The firm has a market capitalization of $66.20 million, a price-to-earnings ratio of 10.59 and a beta of 0.33. The stock’s 50-day simple moving average is $8.99 and its 200-day simple moving average is $9.43. Steel Connect, Inc. has a fifty-two week low of $6.35 and a fifty-two week high of $12.48.

Steel Connect (NASDAQ:STCN) last issued its quarterly earnings results on Friday, March 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $43.05 million for the quarter. Steel Connect had a net margin of 12.23% and a return on equity of 39.04%.

Institutional Trading of Steel Connect

Several large investors have recently added to or reduced their stakes in the company. Gabelli Funds LLC lifted its holdings in shares of Steel Connect by 2.2% during the first quarter. Gabelli Funds LLC now owns 2,912,910 shares of the technology company’s stock worth $3,321,000 after purchasing an additional 63,761 shares during the period. Steel Partners Holdings L.P. lifted its stake in Steel Connect by 0.9% during the 4th quarter. Steel Partners Holdings L.P. now owns 2,017,689 shares of the technology company’s stock valued at $19,440,000 after acquiring an additional 18,261 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of Steel Connect by 7.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,059,800 shares of the technology company’s stock valued at $1,208,000 after acquiring an additional 72,000 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Steel Connect by 43.4% in the first quarter. Bank of America Corp DE now owns 243,500 shares of the technology company’s stock worth $314,000 after acquiring an additional 73,671 shares during the period. Finally, State Street Corp raised its holdings in shares of Steel Connect by 6.0% during the first quarter. State Street Corp now owns 213,238 shares of the technology company’s stock worth $275,000 after purchasing an additional 12,108 shares during the last quarter. Hedge funds and other institutional investors own 47.28% of the company’s stock.

Steel Connect Company Profile

Steel Connect, Inc, together with its subsidiaries, provides supply chain services in the United States, Mainland China, Netherlands, and internationally. It offers product configuration and packaging, kitting, and assembly of components and parts into finished goods; and value-added processes, such as product testing, radio frequency identification tagging, product or service activation, language settings, personalization and engraving, multi-channel packaging, and packaging design services.