Insider Buying: Steel Connect, Inc. (NASDAQ:STCN) Director Buys 18,605 Shares of Stock

Steel Connect, Inc. (NASDAQ:STCN) Director Steel Partners Holdings L.P. acquired 18,605 shares of the 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 completion of the transaction, the director now owns 88,147 shares of the company’s stock, valued at approximately $787,152.71. The transaction was disclosed in a document filed 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 12th, Steel Partners Holdings L.P. purchased 6 shares of Steel Connect stock. The stock was bought at an average cost of $9.35 per share, for a total transaction of $56.10.

Steel Connect Price Performance

Shares of STCN stock opened at $10.86 on Friday. The stock’s fifty day simple moving average is $9.04 and its 200 day simple moving average is $9.43. The firm has a market cap of $68.31 million, a price-to-earnings ratio of 10.93 and a beta of 0.33. Steel Connect, Inc. has a one year low of $6.35 and a one year high of $12.48.

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

Hedge Funds Weigh In On Steel Connect

Several large investors have recently made changes to their positions in STCN. Centiva Capital LP bought a new stake in Steel Connect in the fourth quarter valued at about $29,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Steel Connect in the first quarter worth about $33,000. Jane Street Group LLC bought a new stake in shares of Steel Connect in the third quarter worth about $47,000. Virtu Financial LLC bought a new stake in shares of Steel Connect in the second quarter worth about $60,000. Finally, CSS LLC IL increased its holdings in shares of Steel Connect by 86.2% in the fourth quarter. CSS LLC IL now owns 45,358 shares of the technology company’s stock worth $65,000 after acquiring an additional 21,000 shares in the last quarter. Institutional investors and hedge funds 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.