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

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. acquired 156,313 shares of Steel Connect stock in a transaction on Wednesday, April 24th. The shares were purchased at an average price of $12.00 per share, with a total value of $1,875,756.00. Following the completion of the purchase, the director now owns 969,410 shares in the company, valued at approximately $11,632,920. The acquisition was disclosed in a document filed 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. acquired 47,013 shares of Steel Connect stock. The stock was purchased at an average price of $12.00 per share, with a total value of $564,156.00.
• On Thursday, April 18th, Steel Partners Holdings L.P. bought 701,246 shares of Steel Connect stock. The shares were 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 stock was 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, for a total transaction of $166,142.65.

Steel Connect Trading Up 0.3 %

NASDAQ:STCN traded up $0.04 during mid-day trading on Friday, reaching $12.13. The company’s stock had a trading volume of 55,724 shares, compared to its average volume of 10,067. The stock has a market cap of $76.27 million, a P/E ratio of 12.17 and a beta of 0.33. The firm’s fifty day moving average price is $9.31 and its two-hundred day moving average price is $9.47. 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 for the quarter. The firm 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%.

Hedge Funds Weigh In On Steel Connect

A number of institutional investors and hedge funds have recently modified their holdings of STCN. Steel Partners Holdings L.P. boosted 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 buying an additional 18,261 shares during the last quarter. FORVIS Wealth Advisors LLC purchased a new stake in Steel Connect in the third quarter worth about $168,000. Gabelli Funds LLC lifted 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 valued at $3,454,000 after buying an additional 5,765 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position 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 purchasing an additional 2,872 shares during the period. 47.28% of the stock is currently owned by hedge funds and other institutional investors.

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.