Steel Connect, Inc. (NASDAQ:STCN) Director Acquires $1,875,756.00 in Stock

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. acquired 156,313 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were bought at an average cost of $12.00 per share, for a total transaction of $1,875,756.00. Following the acquisition, the director now owns 969,410 shares in the company, valued at $11,632,920. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, April 26th, Steel Partners Holdings L.P. purchased 47,013 shares of Steel Connect stock. The shares were bought at an average cost of $12.00 per share, for a total transaction of $564,156.00.
• On Thursday, April 18th, Steel Partners Holdings L.P. bought 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. 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 stock was bought at an average price of $8.93 per share, with a total value of $166,142.65.

Steel Connect Stock Up 0.3 %

Steel Connect stock traded up $0.04 during midday trading on Friday, hitting $12.13. 55,724 shares of the stock were exchanged, compared to its average volume of 10,067. The stock has a market capitalization of $76.27 million, a PE ratio of 12.17 and a beta of 0.33. The company has a fifty day simple moving average of $9.31 and a two-hundred day simple moving average of $9.47. Steel Connect, Inc. has a 52 week low of $6.35 and a 52 week high of $12.48.

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

Institutional Trading of Steel Connect

Several hedge funds have recently added to or reduced their stakes in STCN. Steel Partners Holdings L.P. increased its holdings in shares of 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 worth $19,440,000 after acquiring an additional 18,261 shares in the last quarter. Gabelli Funds LLC lifted its holdings 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 valued at $3,454,000 after purchasing an additional 5,765 shares in the last quarter. Gamco Investors INC. ET AL grew its position 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 valued at $1,565,000 after purchasing an additional 2,872 shares during the period. Finally, FORVIS Wealth Advisors LLC acquired a new position in shares of Steel Connect in the 3rd quarter valued at approximately $168,000. Institutional investors and hedge funds 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.