Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. Acquires 156,313 Shares

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. purchased 156,313 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average cost of $12.00 per share, for a total transaction of $1,875,756.00. Following the purchase, the director now directly owns 969,410 shares in the company, valued at $11,632,920. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 shares were bought at an average cost of $12.00 per share, with a total value of $564,156.00.
• On Thursday, April 18th, Steel Partners Holdings L.P. purchased 701,246 shares of Steel Connect stock. The stock was acquired 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 stock was acquired at an average cost of $9.35 per share, with a total value of $56.10.
• On Wednesday, April 10th, Steel Partners Holdings L.P. purchased 18,605 shares of Steel Connect stock. The stock was acquired at an average cost of $8.93 per share, with a total value of $166,142.65.

Steel Connect Stock Performance

NASDAQ STCN opened at $12.13 on Friday. Steel Connect, Inc. has a one year low of $6.35 and a one year high of $12.48. The company has a 50-day simple moving average of $9.31 and a 200-day simple moving average of $9.47. The firm has a market capitalization of $76.27 million, a PE ratio of 12.20 and a beta of 0.33.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STCN. FORVIS Wealth Advisors LLC bought a new position in shares of Steel Connect in the third quarter valued at approximately $168,000. Gamco Investors INC. ET AL boosted its holdings 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 valued at $1,565,000 after acquiring an additional 2,872 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Steel Connect by 1.8% in the third 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, 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 valued at $19,440,000 after acquiring an additional 18,261 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.