Algert Global LLC Trims Holdings 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 reduced its position in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 54.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,220 shares of the company's stock after selling 23,870 shares during the period. Algert Global LLC owned about 0.05% of GigaCloud Technology worth $287,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, insider Marshall Bernes sold 16,000 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.71% of the company's stock.

Analysts Set New Price Targets

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

GigaCloud Technology Stock Performance

NASDAQ:GCT opened at $28.10 on Tuesday. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $34.50. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 8.44 and a beta of 2.36. The business has a fifty day moving average of $23.31 and a 200-day moving average of $18.55.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released 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. GigaCloud Technology had a return on equity of 32.33% and a net margin of 11.17%.The company had revenue of $322.61 million during the quarter, compared to analysts' expectations of $290.08 million. During the same quarter in the prior year, the business posted $1.03 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. GigaCloud Technology has set its Q3 2025 guidance at EPS. On average, equities research analysts predict that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

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

About GigaCloud Technology

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.

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