Insider Buying: Steel Connect, Inc. (NASDAQ:STCN) Director Purchases $6,893,248.18 in Stock

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. purchased 701,246 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was bought at an average price of $9.83 per share, with a total value of $6,893,248.18. Following the acquisition, the director now owns 813,097 shares in the company, valued at $7,992,743.51. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 Trading Up 0.5 %

Steel Connect stock opened at $12.13 on Thursday. The stock has a market cap of $76.30 million, a P/E ratio of 12.21 and a beta of 0.33. The stock has a 50 day moving average of $9.18 and a 200-day moving average of $9.43. Steel Connect, Inc. has a 52 week low of $6.35 and a 52 week high of $12.48.

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

Hedge Funds Weigh In On Steel Connect

Several large investors have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL lifted its stake 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 purchasing an additional 2,872 shares during the last quarter. Gabelli Funds LLC lifted its stake in Steel Connect by 1.8% during the third quarter. Gabelli Funds LLC now owns 328,945 shares of the technology company’s stock worth $3,454,000 after purchasing an additional 5,765 shares during the last quarter. FORVIS Wealth Advisors LLC bought a new position in Steel Connect during the third quarter worth $168,000. Finally, Steel Partners Holdings L.P. increased its position in 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 worth $19,440,000 after buying an additional 18,261 shares during the period. 47.28% of the stock is currently owned by institutional investors.

Steel Connect Company Profile

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.