Steel Partners Holdings L.P. Buys 47,013 Shares of Steel Connect, Inc. (NASDAQ:STCN) Stock

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. acquired 47,013 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was bought at an average price of $12.00 per share, with a total value of $564,156.00. Following the completion of the acquisition, the director now directly owns 1,078,423 shares of the company’s stock, valued at $12,941,076. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, April 24th, Steel Partners Holdings L.P. acquired 156,313 shares of Steel Connect stock. The stock was bought at an average price of $12.00 per share, with a total value of $1,875,756.00.
• On Thursday, April 18th, Steel Partners Holdings L.P. acquired 701,246 shares of Steel Connect stock. The stock was bought at an average price of $9.83 per share, with a total value of $6,893,248.18.
• On Friday, April 12th, Steel Partners Holdings L.P. bought 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. bought 18,605 shares of Steel Connect stock. The shares were acquired at an average price of $8.93 per share, with a total value of $166,142.65.

Steel Connect Stock Performance

Shares of NASDAQ:STCN opened at $12.13 on Friday. The stock has a market capitalization of $76.27 million, a price-to-earnings ratio of 12.20 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 company has a 50 day moving average price of $9.39 and a 200 day moving average price of $9.48.

Steel Connect (NASDAQ:STCN) last issued its earnings results 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%.

Institutional Trading of Steel Connect

A number of large investors have recently added to or reduced their stakes in STCN. Steel Partners Holdings L.P. boosted its holdings in Steel Connect by 0.9% during 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 in the last quarter. FORVIS Wealth Advisors LLC purchased a new stake in shares of Steel Connect in the 3rd quarter valued at approximately $168,000. Gabelli Funds LLC lifted its position in shares of Steel Connect by 1.8% in the 3rd quarter. Gabelli Funds LLC now owns 328,945 shares of the technology company’s stock valued at $3,454,000 after acquiring an additional 5,765 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted 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 acquiring an additional 2,872 shares in the last quarter. 47.28% of the stock is currently owned by 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.