Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. Acquires 156,313 Shares

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. bought 156,313 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $12.00 per share, for a total transaction of $1,875,756.00. Following the transaction, the director now owns 969,410 shares of the company’s stock, valued at $11,632,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, April 26th, Steel Partners Holdings L.P. bought 47,013 shares of Steel Connect stock. The stock was purchased at an average cost of $12.00 per share, for a total transaction of $564,156.00.
• On Thursday, April 18th, Steel Partners Holdings L.P. bought 701,246 shares of Steel Connect stock. The stock was purchased at an average cost of $9.83 per share, for a total transaction of $6,893,248.18.
• On Friday, April 12th, Steel Partners Holdings L.P. bought 6 shares of Steel Connect stock. The stock was purchased at an average cost of $9.35 per share, for a total transaction of $56.10.
• On Wednesday, April 10th, Steel Partners Holdings L.P. bought 18,605 shares of Steel Connect stock. The stock was purchased at an average cost of $8.93 per share, for a total transaction of $166,142.65.

Steel Connect Trading Up 0.3 %

Steel Connect stock opened at $12.13 on Friday. Steel Connect, Inc. has a twelve month low of $6.35 and a twelve month high of $12.48. The stock’s fifty day simple moving average is $9.31 and its 200-day simple moving average is $9.47. The firm has a market capitalization of $76.27 million, a P/E ratio of 12.20 and a beta of 0.33.

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

Institutional Trading of Steel Connect

Large investors have recently modified their holdings of the stock. FORVIS Wealth Advisors LLC purchased a new stake in shares of Steel Connect during the third quarter worth $168,000. Gamco Investors INC. ET AL grew its stake in shares of Steel Connect by 2.0% during the third quarter. Gamco Investors INC. ET AL now owns 149,094 shares of the technology company’s stock worth $1,565,000 after purchasing an additional 2,872 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Steel Connect by 1.8% during the third quarter. Gabelli Funds LLC now owns 328,945 shares of the technology company’s stock worth $3,454,000 after purchasing an additional 5,765 shares in the last quarter. Finally, Steel Partners Holdings L.P. grew its stake in shares of Steel Connect by 0.9% during the fourth quarter. Steel Partners Holdings L.P. now owns 2,017,689 shares of the technology company’s stock worth $19,440,000 after purchasing an additional 18,261 shares in 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.