Steel Partners Holdings L.P. Purchases 18,605 Shares of Steel Connect, Inc. (NASDAQ:STCN) Stock

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. bought 18,605 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average price of $8.93 per share, for a total transaction of $166,142.65. Following the transaction, the director now directly owns 88,147 shares of the company’s stock, valued at approximately $787,152.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were bought at an average cost of $9.35 per share, for a total transaction of $56.10.

Steel Connect Stock Up 7.2 %

NASDAQ STCN opened at $10.52 on Friday. Steel Connect, Inc. has a 52-week low of $6.35 and a 52-week high of $12.48. The business’s 50-day moving average price is $8.99 and its 200 day moving average price is $9.43. The firm has a market cap of $66.20 million, a P/E ratio of 10.59 and a beta of 0.33.

Steel Connect (NASDAQ:STCN) last released its quarterly earnings results 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.

Institutional Investors Weigh In On Steel Connect

Institutional investors have recently added to or reduced their stakes in the business. Centiva Capital LP purchased a new stake in Steel Connect in the 4th quarter valued at approximately $29,000. Charles Schwab Investment Management Inc. purchased a new stake in Steel Connect in the 1st quarter valued at approximately $33,000. Jane Street Group LLC purchased a new stake in Steel Connect in the 3rd quarter valued at approximately $47,000. Virtu Financial LLC purchased a new stake in Steel Connect in the 2nd quarter valued at approximately $60,000. Finally, CSS LLC IL boosted its holdings in Steel Connect by 86.2% in the 4th quarter. CSS LLC IL now owns 45,358 shares of the technology company’s stock valued at $65,000 after purchasing an additional 21,000 shares in the last quarter. Hedge funds and other 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.