Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. Buys 47,013 Shares

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. bought 47,013 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were acquired at an average cost of $12.00 per share, with a total value of $564,156.00. Following the acquisition, the director now directly owns 1,078,423 shares of the company’s stock, valued at $12,941,076. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, April 24th, Steel Partners Holdings L.P. acquired 156,313 shares of Steel Connect stock. The stock was purchased at an average cost of $12.00 per share, with a total value of $1,875,756.00.
• On Thursday, April 18th, Steel Partners Holdings L.P. acquired 701,246 shares of Steel Connect stock. The stock was purchased at an average cost of $9.83 per share, with a total value of $6,893,248.18.
• On Friday, April 12th, Steel Partners Holdings L.P. acquired 6 shares of Steel Connect stock. The stock was purchased at an average cost of $9.35 per share, with a total value of $56.10.
• On Wednesday, April 10th, Steel Partners Holdings L.P. acquired 18,605 shares of Steel Connect stock. The stock was purchased at an average cost of $8.93 per share, with a total value of $166,142.65.

Steel Connect Trading Up 0.3 %

Shares of STCN opened at $12.13 on Friday. Steel Connect, Inc. has a 12-month low of $6.35 and a 12-month high of $12.48. The firm has a 50-day moving average price of $9.31 and a 200 day moving average price of $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 announced its quarterly earnings data on Friday, March 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. Steel Connect had a net margin of 12.23% and a return on equity of 39.04%. The firm had revenue of $43.05 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of STCN. Steel Partners Holdings L.P. boosted its stake in 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 buying an additional 18,261 shares during the period. FORVIS Wealth Advisors LLC purchased a new position in Steel Connect during the third quarter worth about $168,000. Gabelli Funds LLC boosted its stake in 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 buying an additional 5,765 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in 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 buying an additional 2,872 shares during the period. Hedge funds and other institutional investors own 47.28% of the company’s stock.

About Steel Connect

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.