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. bought 701,246 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were bought at an average price of $9.83 per share, with a total value of $6,893,248.18. Following the purchase, the director now owns 813,097 shares in the company, valued at approximately $7,992,743.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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 stock was bought at an average cost of $9.35 per share, for a total transaction of $56.10.
• On Wednesday, April 10th, Steel Partners Holdings L.P. purchased 18,605 shares of Steel Connect stock. The stock was purchased at an average price of $8.93 per share, with a total value of $166,142.65.

Steel Connect Stock Up 4.1 %

NASDAQ STCN opened at $12.07 on Wednesday. The firm has a 50-day moving average price of $9.10 and a two-hundred day moving average price of $9.42. Steel Connect, Inc. has a 12-month low of $6.35 and a 12-month high of $12.48. The company has a market capitalization of $75.92 million, a P/E ratio of 12.15 and a beta of 0.33.

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 firm 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 Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Steel Partners Holdings L.P. raised its position in shares of 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 acquiring an additional 18,261 shares during the last quarter. Gabelli Funds LLC increased its position in 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 during the period. Gamco Investors INC. ET AL raised its holdings in Steel Connect by 2.0% during the 3rd 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 last quarter. Finally, FORVIS Wealth Advisors LLC acquired a new stake in shares of Steel Connect during the third quarter worth $168,000. 47.28% of the stock is 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.