1 day Ago By ABMN Staff
Bank of New York Mellon Corp bought a new stake in GigaCloud Technology Inc. ( NASDAQ:GCT – Free Report ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 65,738 shares of the company’s stock, valued at approximately $2,000,000.
Several other institutional investors and hedge funds have also modified their holdings of GCT. Quarry LP acquired a new stake in GigaCloud Technology during the fourth quarter worth about $47,000. Tucker Asset Management LLC boosted its position in shares of GigaCloud Technology by 1,499.
8% during the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock worth $146,000 after acquiring an additional 7,499 shares in the last quarter. Great Valley Advisor Group Inc.
bought a new position in GigaCloud Technology in the second quarter valued at approximately $329,000. Truvestments Capital LLC bought a new position in GigaCloud Technology in the first quarter valued at approximately $327,000. Finally, Avantax Advisory Services Inc.
acquired a new position in GigaCloud Technology during the fourth quarter valued at approximately $226,000. 34.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at GigaCloud Technology In related news, President Iman Aj Schrock sold 5,000 shares of GigaCloud Technology stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $30.21, for a total value of $151,050.
00. Following the completion of the sale, the president now owns 25,000 shares of the company’s stock, valued at approximately $755,250. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink .
In related news, Director Frank Hurst Lin sold 81,537 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $29.83, for a total value of $2,432,248.
71. Following the sale, the director now directly owns 4,447,352 shares of the company’s stock, valued at $132,664,510.16.
The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . Also, President Iman Aj Schrock sold 5,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $30.
21, for a total transaction of $151,050.00. Following the completion of the transaction, the president now owns 25,000 shares of the company’s stock, valued at $755,250.
The disclosure for this sale can be found here . Insiders have sold a total of 195,741 shares of company stock worth $5,829,966 over the last three months. 43.
00% of the stock is currently owned by insiders. GigaCloud Technology Price Performance GigaCloud Technology ( NASDAQ:GCT – Get Free Report ) last announced its earnings results on Tuesday, August 6th. The company reported $1.
03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32.
GigaCloud Technology had a net margin of 11.57% and a return on equity of 39.75%.
The company had revenue of $310.90 million during the quarter, compared to the consensus estimate of $275.47 million.
During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue for the quarter was up 102.
8% on a year-over-year basis. As a group, equities research analysts anticipate that GigaCloud Technology Inc. will post 2.
67 earnings per share for the current fiscal year. Analysts Set New Price Targets A number of equities research analysts have recently weighed in on the stock. Maxim Group initiated coverage on shares of GigaCloud Technology in a research note on Wednesday, May 22nd.
They issued a “buy” rating and a $69.00 price target on the stock. Lake Street Capital started coverage on shares of GigaCloud Technology in a research report on Monday, July 29th.
They issued a “buy” rating and a $50.00 target price on the stock. Finally, Aegis raised shares of GigaCloud Technology to a “strong-buy” rating in a research note on Wednesday, August 14th.
Get Our Latest Stock Analysis on GCT GigaCloud Technology Profile ( Free Report ) 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.
Further Reading Want to see what other hedge funds are holding GCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GigaCloud Technology Inc. ( NASDAQ:GCT – Free Report ).
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