Kayne Anderson Rudnick Investment Management LLC Buys 17,709 Shares of GigaCloud Technology Inc. $GCT

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in GigaCloud Technology by 14% in Q1, owning a total of 143,813 shares valued at approximately $2.04 million.
• GigaCloud Technology reported earnings per share (EPS) of $0.91 for the last quarter, exceeding expectations and indicating a 3.8% revenue increase from the previous year.
• Insider Marshall Bernes sold 16,000 shares of GigaCloud stock for about $500,640, while institutional investors currently hold approximately 34.94% of the company's stock.

Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 14.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,813 shares of the company's stock after purchasing an additional 17,709 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.36% of GigaCloud Technology worth $2,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GCT. Legal & General Group Plc grew its holdings in GigaCloud Technology by 12.8% in the 4th quarter. Legal & General Group Plc now owns 21,685 shares of the company's stock valued at $402,000 after buying an additional 2,456 shares in the last quarter. Raymond James Financial Inc. acquired a new position in GigaCloud Technology in the 4th quarter valued at $349,000. Mariner LLC lifted its position in GigaCloud Technology by 10.5% during the fourth 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. MetLife Investment Management LLC lifted its position in GigaCloud Technology by 15.2% during the fourth quarter. MetLife Investment Management LLC now owns 15,875 shares of the company's stock worth $294,000 after purchasing an additional 2,091 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in GigaCloud Technology during the fourth quarter worth about $375,000. 34.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GCT has been the subject of several recent analyst reports. Lake Street Capital upped their price objective 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. Wall Street Zen raised GigaCloud Technology from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Zacks Research raised GigaCloud Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, GigaCloud Technology has a consensus rating of "Hold" and a consensus target price of $24.00.

GigaCloud Technology Trading Up 1.3%

NASDAQ GCT traded up $0.35 on Monday, hitting $26.47. 823,423 shares of the company were exchanged, compared to its average volume of 1,310,447. The company has a market cap of $997.12 million, a PE ratio of 7.95 and a beta of 2.37. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $34.50. The stock has a fifty day moving average of $24.14 and a 200-day moving average of $18.76.

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 analysts' consensus estimates of $0.46 by $0.45. The business had revenue of $322.61 million during the quarter, compared to analyst estimates of $290.08 million. GigaCloud Technology had a net margin of 11.17% and a return on equity of 32.33%. GigaCloud Technology's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. GigaCloud Technology has set its Q3 2025 guidance at EPS. On average, analysts expect that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.

GigaCloud Technology announced that its Board of Directors has approved a share buyback plan on Monday, August 18th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other GigaCloud Technology news, insider Marshall Bernes sold 16,000 shares of the business's stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.71% of the company's stock.

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.