STEEL PARTNERS HOLDINGS LP, Board Member at Steel Connect (NASDAQ:STCN), disclosed an insider purchase on June 20, based on a new SEC filing.
What Happened: LP made a significant move by purchasing 6,967 shares of Steel Connect as reported in a Form 4 filing with the U.S. Securities and Exchange Commission. The transaction's total worth stands at $83,666.
Steel Connect shares are trading up 0.24% at $12.52 at the time of this writing on Friday morning.
All You Need to Know About Steel Connect
Steel Connect Inc is a diversified holding company. The company's operating segment include Direct Marketing and Supply Chain. It generates maximum revenue from the Direct Marketing segment. Geographically, it derives a majority of revenue from the United States and also has a presence in China; Netherlands, and others. The company serves clients in various industries including consumer electronics, communications, computing, software, storage, and retail industries.
Breaking Down Steel Connect's Financial Performance
Decline in Revenue: Over the 3 months period, Steel Connect faced challenges, resulting in a decline of approximately -4.96% in revenue growth as of 30 April, 2024. This signifies a reduction in the company's top-line earnings. As compared to its ...