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

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

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 shares were bought 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. purchased 18,605 shares of Steel Connect stock. The shares were bought at an average cost of $8.93 per share, with a total value of $166,142.65.

Steel Connect Stock Up 0.5 %

NASDAQ:STCN opened at $12.13 on Thursday. The stock’s 50 day moving average price is $9.18 and its two-hundred day moving average price is $9.43. The firm has a market capitalization of $76.30 million, a price-to-earnings ratio of 12.21 and a beta of 0.33. Steel Connect, Inc. has a 12-month low of $6.35 and a 12-month high of $12.48.

Steel Connect (NASDAQ:STCN) last released its quarterly earnings data on Friday, March 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. The firm 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 Trading of Steel Connect

Several institutional investors and hedge funds have recently bought and sold shares of the business. Steel Partners Holdings L.P. raised its stake in Steel Connect by 0.9% in the fourth quarter. Steel Partners Holdings L.P. now owns 2,017,689 shares of the technology company’s stock valued at $19,440,000 after buying an additional 18,261 shares during the period. Gabelli Funds LLC increased 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 during the period. Gamco Investors INC. ET AL increased 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 during the period. Finally, FORVIS Wealth Advisors LLC bought a new position in shares of Steel Connect during the third quarter worth approximately $168,000. 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.