GigaCloud Technology Inc. $GCT Holdings Cut by Second Line Capital LLC

Key Points

• Second Line Capital LLC has reduced its stake in GigaCloud Technology Inc. by 23.6%, holding 91,914 shares after selling 28,418 shares in the first quarter.
• GigaCloud reported earnings of $0.91 per share, significantly beating analysts' expectations, with revenue of $322.61 million for the quarter.
• The company initiated a stock buyback program, signaling that its board believes the stock is undervalued.

Second Line Capital LLC reduced its position in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,914 shares of the company's stock after selling 28,418 shares during the period. Second Line Capital LLC owned about 0.23% of GigaCloud Technology worth $1,305,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC increased its position in shares of GigaCloud Technology by 319.8% during the first quarter. CWM LLC now owns 2,821 shares of the company's stock worth $40,000 after purchasing an additional 2,149 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in GigaCloud Technology by 724.7% in the first quarter. Russell Investments Group Ltd. now owns 4,148 shares of the company's stock valued at $59,000 after buying an additional 3,645 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in GigaCloud Technology in the fourth quarter valued at about $79,000. Banque Cantonale Vaudoise purchased a new position in GigaCloud Technology in the first quarter valued at about $103,000. Finally, Squarepoint Ops LLC purchased a new position in GigaCloud Technology in the fourth quarter valued at about $189,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Marshall Bernes sold 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $31.29, for a total transaction of $500,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.71% of the company's stock.

GigaCloud Technology Price Performance

Shares of NASDAQ:GCT traded up $0.12 during trading on Wednesday, reaching $25.56. 755,698 shares of the company's stock traded hands, compared to its average volume of 932,906. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $34.50. The company has a 50 day moving average of $24.29 and a 200-day moving average of $18.81. The stock has a market capitalization of $962.85 million, a P/E ratio of 7.68 and a beta of 2.37.

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

GigaCloud Technology declared that its board has approved a share repurchase program on Monday, August 18th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GCT shares. Wall Street Zen raised shares of GigaCloud Technology from a "hold" rating to a "buy" rating in a research note on Saturday. Zacks Research upgraded shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Lake Street Capital lifted their price target on shares of GigaCloud Technology from $26.00 to $33.00 and gave the company a "buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, GigaCloud Technology currently has a consensus rating of "Hold" and a consensus target price of $24.00.

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.