Steel Partners Holdings L.P. Acquires 1,323 Shares of Steel Connect, Inc. (NASDAQ:STCN) Stock

Steel Connect, Inc. (NASDAQ:STCNGet Free Report) Director Steel Partners Holdings L.P. bought 1,323 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average cost of $10.50 per share, with a total value of $13,891.50. Following the completion of the purchase, the director now owns 1,079,746 shares in the company, valued at approximately $11,337,333. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Friday, April 26th, Steel Partners Holdings L.P. purchased 47,013 shares of Steel Connect stock. The stock was bought at an average price of $12.00 per share, with a total value of $564,156.00.
  • On Wednesday, April 24th, Steel Partners Holdings L.P. acquired 156,313 shares of Steel Connect stock. The shares were bought at an average price of $12.00 per share, for a total transaction of $1,875,756.00.
  • On Thursday, April 18th, Steel Partners Holdings L.P. bought 701,246 shares of Steel Connect stock. The stock was bought 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 purchased 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. acquired 18,605 shares of Steel Connect stock. The shares were purchased at an average cost of $8.93 per share, with a total value of $166,142.65.

Steel Connect Stock Performance

Steel Connect stock traded down $0.18 during midday trading on Friday, reaching $11.00. The stock had a trading volume of 18,952 shares, compared to its average volume of 9,226. The stock has a market capitalization of $69.15 million, a P/E ratio of 11.11 and a beta of 0.18. The firm’s fifty day simple moving average is $11.20 and its 200-day simple moving average is $9.92. Steel Connect, Inc. has a 1-year low of $7.36 and a 1-year high of $12.61.

Steel Connect (NASDAQ:STCNGet Free Report) last posted its quarterly earnings data on Friday, March 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. The company 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 Investors Weigh In On Steel Connect

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steel Partners Holdings L.P. grew its holdings in shares of Steel Connect by 0.9% in the 4th 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. Gamco Investors INC. ET AL raised its holdings in Steel Connect by 2.0% during the third quarter. Gamco Investors INC. ET AL now owns 149,094 shares of the technology company’s stock worth $1,565,000 after acquiring an additional 2,872 shares in the last quarter. Gabelli Funds LLC boosted its position in Steel Connect by 1.8% during the third 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 last quarter. Finally, Wealthspire Advisors LLC bought a new position in Steel Connect in the first quarter valued at approximately $2,991,000. 47.28% of the stock is currently owned by institutional investors and hedge funds.

About Steel Connect

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Steel Connect (NASDAQ:STCN)

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