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

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. bought 47,013 shares of the stock in a transaction on Friday, April 26th. The stock was purchased at an average price of $12.00 per share, for a total transaction of $564,156.00. Following the completion of the purchase, the director now directly owns 1,078,423 shares in the company, valued at $12,941,076. The transaction was disclosed in a document filed with the SEC, 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. purchased 156,313 shares of Steel Connect stock. The stock was purchased at an average cost of $12.00 per share, for a total transaction of $1,875,756.00.
• On Thursday, April 18th, Steel Partners Holdings L.P. bought 701,246 shares of Steel Connect stock. The stock was acquired at an average price of $9.83 per share, for a total transaction of $6,893,248.18.
• On Friday, April 12th, Steel Partners Holdings L.P. purchased 6 shares of Steel Connect stock. The shares were acquired at an average price 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 shares were acquired at an average cost of $8.93 per share, with a total value of $166,142.65.

Steel Connect Stock Performance

STCN traded up $0.04 on Friday, reaching $12.13. The company had a trading volume of 55,724 shares, compared to its average volume of 10,067. Steel Connect, Inc. has a 52-week low of $6.35 and a 52-week high of $12.48. The company has a market cap of $76.27 million, a price-to-earnings ratio of 12.17 and a beta of 0.33. The business has a 50 day simple moving average of $9.31 and a 200 day simple moving average of $9.47.

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 net margin of 12.23% and a return on equity of 39.04%. The firm had revenue of $43.05 million for the quarter.

Institutional Investors Weigh In On Steel Connect

A number of large investors have recently added to or reduced their stakes in STCN. Steel Partners Holdings L.P. boosted its holdings in shares of 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 worth $19,440,000 after purchasing an additional 18,261 shares in the last quarter. FORVIS Wealth Advisors LLC purchased a new position in Steel Connect in the 3rd quarter worth $168,000. Gamco Investors INC. ET AL raised its position in 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 purchasing an additional 2,872 shares during the period. Finally, Gabelli Funds LLC boosted its position in Steel Connect by 1.8% during the third quarter. Gabelli Funds LLC now owns 328,945 shares of the technology company’s stock valued at $3,454,000 after buying an additional 5,765 shares during the period. 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.