Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. Buys 701,246 Shares of Stock

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. acquired 701,246 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was purchased at an average cost of $9.83 per share, with a total value of $6,893,248.18. Following the acquisition, the director now directly owns 813,097 shares of the company’s stock, valued at approximately $7,992,743.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, April 12th, Steel Partners Holdings L.P. bought 6 shares of Steel Connect stock. The shares were 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. purchased 18,605 shares of Steel Connect stock. The shares were purchased at an average price of $8.93 per share, with a total value of $166,142.65.

Steel Connect Stock Performance

STCN opened at $11.60 on Tuesday. The stock has a market capitalization of $72.96 million, a PE ratio of 11.68 and a beta of 0.33. Steel Connect, Inc. has a one year low of $6.35 and a one year high of $12.48. The business’s 50 day moving average price is $9.04 and its 200 day moving average price is $9.42.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FORVIS Wealth Advisors LLC acquired a new stake in shares of Steel Connect during the third quarter valued at about $168,000. Gamco Investors INC. ET AL lifted its holdings in shares of Steel Connect by 2.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 149,094 shares of the technology company’s stock worth $1,565,000 after acquiring an additional 2,872 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Steel Connect by 1.8% during the 3rd 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 during the period. Finally, Steel Partners Holdings L.P. increased its holdings in Steel Connect by 0.9% in 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 purchasing an additional 18,261 shares during the last quarter. Institutional investors and hedge funds 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.