Steel Partners Holdings L.P. Buys 701,246 Shares of Steel Connect, Inc. (NASDAQ:STCN) Stock

Steel Connect, Inc. (NASDAQ:STCN - Get Free Report) Director Steel Partners Holdings L.P. acquired 701,246 shares of the firm's stock in a transaction on Thursday, April 18th. The shares were bought at an average price of $9.83 per share, for a total transaction of $6,893,248.18. Following the completion of the transaction, the director now owns 813,097 shares of the company's stock, valued at $7,992,743.51. The transaction was disclosed in a document filed with the SEC, which is available at 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 price of $9.35 per share, with a total value 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 price of $8.93 per share, for a total transaction of $166,142.65.

Steel Connect Trading Up 7.2 %

Shares of STCN stock traded up $0.78 during trading hours on Monday, reaching $11.60. 13,377 shares of the stock were exchanged, compared to its average volume of 6,324. The firm has a market capitalization of $72.96 million, a price-to-earnings ratio of 11.68 and a beta of 0.33. Steel Connect, Inc. has a 12-month low of $6.35 and a 12-month high of $12.48. The company's 50-day moving average price is $9.04 and its 200-day moving average price is $9.42.

Steel Connect (NASDAQ:STCN - Get Free Report) last announced its quarterly earnings data on Friday, March 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. The business 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%.

Hedge Funds Weigh In On Steel Connect

Several hedge funds have recently bought and sold shares of the business. Steel Partners Holdings L.P. raised its stake 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 valued at $19,440,000 after acquiring an additional 18,261 shares in the last quarter. FORVIS Wealth Advisors LLC purchased a new position in Steel Connect during the 3rd quarter worth $168,000. Gamco Investors INC. ET AL raised its position 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 valued at $1,565,000 after purchasing an additional 2,872 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings 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 worth $3,454,000 after buying an additional 5,765 shares during the period. Institutional investors own 47.28% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.