Insider Buying: Steel Connect, Inc. (NASDAQ:STCN) Director Buys $166,142.65 in Stock

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. purchased 18,605 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average cost of $8.93 per share, with a total value of $166,142.65. Following the purchase, the director now directly owns 88,147 shares in the company, valued at $787,152.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, April 12th, Steel Partners Holdings L.P. bought 6 shares of Steel Connect stock. The stock was purchased at an average cost of $9.35 per share, with a total value of $56.10.

Steel Connect Trading Up 3.2 %

Shares of STCN stock opened at $10.86 on Friday. The firm has a 50-day moving average price of $9.04 and a 200 day moving average price of $9.43. Steel Connect, Inc. has a twelve month low of $6.35 and a twelve month high of $12.48. The company has a market capitalization of $68.31 million, a price-to-earnings ratio of 10.93 and a beta of 0.33.

Steel Connect (NASDAQ:STCN) last announced its earnings results 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 during the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in STCN. Bank of America Corp DE raised its stake in Steel Connect by 43.4% in the 1st quarter. Bank of America Corp DE now owns 243,500 shares of the technology company’s stock valued at $314,000 after purchasing an additional 73,671 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in Steel Connect by 7.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,059,800 shares of the technology company’s stock valued at $1,208,000 after buying an additional 72,000 shares during the period. Gabelli Funds LLC grew its holdings in Steel Connect by 2.2% in the 1st quarter. Gabelli Funds LLC now owns 2,912,910 shares of the technology company’s stock valued at $3,321,000 after buying an additional 63,761 shares during the period. Prelude Capital Management LLC purchased a new stake in Steel Connect in the 2nd quarter valued at about $84,000. Finally, Millennium Management LLC purchased a new stake in Steel Connect in the 4th quarter valued at about $89,000. 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.