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

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. bought 701,246 shares of Steel Connect stock in a transaction that occurred on Thursday, April 18th. The stock was bought at an average price of $9.83 per share, with a total value of $6,893,248.18. Following the completion of the acquisition, the director now owns 813,097 shares in the company, valued at approximately $7,992,743.51. The acquisition 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 12th, Steel Partners Holdings L.P. purchased 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. acquired 18,605 shares of Steel Connect stock. The stock was purchased at an average price of $8.93 per share, with a total value of $166,142.65.

Steel Connect Trading Up 4.1 %

NASDAQ:STCN opened at $12.07 on Wednesday. The firm has a market capitalization of $75.92 million, a PE ratio of 12.15 and a beta of 0.33. Steel Connect, Inc. has a 1 year low of $6.35 and a 1 year high of $12.48. The firm’s fifty day simple moving average is $9.10 and its 200 day simple moving average is $9.42.

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

Institutional Trading of Steel Connect

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FORVIS Wealth Advisors LLC acquired a new position in shares of Steel Connect during the third quarter worth approximately $168,000. Gamco Investors INC. ET AL grew its stake in shares of Steel Connect by 2.0% in the third 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 increased 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 worth $3,454,000 after acquiring an additional 5,765 shares during the period. Finally, Steel Partners Holdings L.P. raised 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 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.