Sei Investments Co. Makes New Investment in GigaCloud Technology Inc. $GCT

Key Points

• Sei Investments Co. bought a new 61,402-share stake in GigaCloud Technology valued at approximately $2.8 million, representing 0.17% of the company. Other institutional investors also increased their positions, with institutions collectively owning 34.94% of the stock.
• GigaCloud reported quarterly revenue of $411.6 million and EPS of $1.16, beating analyst estimates, while forecasting third-quarter revenue above consensus. The company also authorized a new three-year, $120 million share-repurchase program.
• Analyst sentiment has weakened, with several firms downgrading the stock and MarketBeat reporting an average rating of “Hold.” Shares opened at $53.25, near their 52-week high of $56.27.

Sei Investments Co. purchased a new stake in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 61,402 shares of the company's stock, valued at approximately $2,786,000. Sei Investments Co. owned 0.17% of GigaCloud Technology at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GCT. Royal Bank of Canada boosted its position in shares of GigaCloud Technology by 91.4% in the first quarter. Royal Bank of Canada now owns 46,638 shares of the company's stock worth $661,000 after acquiring an additional 22,273 shares during the last quarter. AQR Capital Management LLC grew its holdings in GigaCloud Technology by 355.1% in the first quarter. AQR Capital Management LLC now owns 99,669 shares of the company's stock valued at $1,415,000 after purchasing an additional 77,769 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in GigaCloud Technology by 34.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,230 shares of the company's stock worth $458,000 after purchasing an additional 8,274 shares during the last quarter. Jones Financial Companies Lllp increased its position in GigaCloud Technology by 2,444.8% during the first quarter. Jones Financial Companies Lllp now owns 4,199 shares of the company's stock worth $60,000 after purchasing an additional 4,034 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in GigaCloud Technology by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 142,055 shares of the company's stock worth $2,017,000 after purchasing an additional 28,309 shares during the period. Institutional investors and hedge funds own 34.94% of the company's stock.

Wall Street Analyst Weigh In

GCT has been the topic of a number of research analyst reports. Zacks Research lowered shares of GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Wall Street Zen lowered GigaCloud Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings cut GigaCloud Technology from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, June 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold".

GigaCloud Technology Stock Performance

GCT opened at $53.25 on Friday. GigaCloud Technology Inc. has a 1 year low of $24.86 and a 1 year high of $56.27. The firm has a 50 day moving average price of $36.38 and a 200 day moving average price of $39.61. The company has a market cap of $1.96 billion, a PE ratio of 12.59 and a beta of 1.65.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.26. GigaCloud Technology had a net margin of 10.65% and a return on equity of 32.23%. The firm had revenue of $411.64 million for the quarter, compared to analysts' expectations of $380.63 million. On average, sell-side analysts predict that GigaCloud Technology Inc. will post 4.18 earnings per share for the current year.

GigaCloud Technology News Roundup

Here are the key news stories impacting GigaCloud Technology this week:

• Positive Sentiment: Q2 results beat estimates: Revenue rose 27.6% year over year to $411.6 million, above the roughly $380.6 million consensus estimate, while diluted EPS of $1.16 exceeded estimates ranging from $0.85 to $0.90. Net income increased 22.3% to $42.3 million, and adjusted EBITDA climbed 39.5% to $60.4 million. GigaCloud Technology Q2 financial results
• Positive Sentiment: Margins and operating metrics improved: Gross margin expanded to 25.6% from 23.9% a year earlier. Marketplace GMV grew 21.3% to $1.74 billion over the latest 12 months, while third-party seller GMV rose 27.0%; active sellers and buyers increased 26.1% and 17.1%, respectively.
• Positive Sentiment: Guidance topped expectations: GigaCloud forecast third-quarter revenue of $375 million to $400 million, above the approximately $370.7 million analyst consensus, reinforcing expectations for continued growth. GigaCloud Q2 results and guidance
• Positive Sentiment: Buyback expanded: The company authorized a new three-year, $120 million share-repurchase program after buying back approximately $30 million of shares during the quarter and another $18 million after quarter-end. The move signals management’s confidence and could support per-share results. The earnings call also highlighted 66% European GMV growth and the integration of New Classic. GCT earnings call takeaways
• Neutral Sentiment: Key risks remain: Cash, restricted cash and investments declined 9.2% from year-end, partly reflecting acquisitions and repurchases. Net margin edged lower year over year despite higher profit, and reported insider activity included substantial selling with no purchases in the latest six months.

About GigaCloud Technology

GigaCloud Technology Inc NASDAQ: GCT is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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