Algert Global LLC Reduces Position in GigaCloud Technology Inc. $GCT

Key Points

• Algert Global LLC has reduced its holdings in GigaCloud Technology Inc. by 54.1%, now owning approximately 20,220 shares worth $287,000 after selling 23,870 shares in the first quarter.
• Several institutional investors, such as Principal Financial Group and Mariner LLC, have increased their stakes in GigaCloud Technology, indicating growing confidence among hedge funds.
• GigaCloud Technology reported a profit of $0.91 EPS for the last quarter, surpassing expectations, and its board has initiated a stock buyback program, signaling potential undervaluation of the stock.

Algert Global LLC trimmed its stake in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 54.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,220 shares of the company's stock after selling 23,870 shares during the period. Algert Global LLC owned 0.05% of GigaCloud Technology worth $287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in shares of GigaCloud Technology by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 74,234 shares of the company's stock worth $1,054,000 after purchasing an additional 1,028 shares during the period. Mariner LLC lifted its position in shares of GigaCloud Technology by 10.5% in the 4th quarter. Mariner LLC now owns 11,066 shares of the company's stock worth $205,000 after purchasing an additional 1,056 shares during the period. PFG Investments LLC lifted its position in shares of GigaCloud Technology by 9.4% in the 1st quarter. PFG Investments LLC now owns 16,835 shares of the company's stock worth $239,000 after purchasing an additional 1,450 shares during the period. Janus Henderson Group PLC lifted its position in shares of GigaCloud Technology by 7.4% in the 4th quarter. Janus Henderson Group PLC now owns 28,217 shares of the company's stock worth $523,000 after purchasing an additional 1,934 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of GigaCloud Technology by 9.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,956 shares of the company's stock worth $444,000 after purchasing an additional 1,981 shares during the period. 34.94% of the stock is owned by hedge funds and other institutional investors.

GigaCloud Technology Stock Performance

Shares of GCT traded up $0.35 during trading hours on Friday, hitting $26.47. The company had a trading volume of 823,423 shares, compared to its average volume of 1,310,447. The firm has a fifty day moving average price of $23.98 and a 200-day moving average price of $18.72. The stock has a market capitalization of $997.12 million, a price-to-earnings ratio of 7.95 and a beta of 2.37. GigaCloud Technology Inc. has a 52-week low of $11.17 and a 52-week high of $34.50.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.45. The firm had revenue of $322.61 million during the quarter, compared to analyst estimates of $290.08 million. GigaCloud Technology had a return on equity of 32.33% and a net margin of 11.17%.GigaCloud Technology's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. GigaCloud Technology has set its Q3 2025 guidance at EPS. Research analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

GigaCloud Technology declared that its board has initiated a stock repurchase program on Monday, August 18th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Lake Street Capital raised their target price on shares of GigaCloud Technology from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Zacks Research raised shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen raised shares of GigaCloud Technology from a "hold" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, GigaCloud Technology presently has a consensus rating of "Hold" and an average price target of $24.00.

Insider Activity

In other news, insider Marshall Bernes sold 16,000 shares of GigaCloud Technology stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $31.29, for a total value of $500,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.71% of the stock is currently owned by corporate insiders.

GigaCloud Technology Profile

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.