LSV Asset Management Makes New $2.26 Million Investment in GigaCloud Technology Inc. $GCT

LSV Asset Management acquired a new stake in GigaCloud Technology Inc. (NASDAQ:GCT) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 79,700 shares of the company’s stock, valued at approximately $2,263,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its stake in shares of GigaCloud Technology by 17.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock worth $54,000 after buying an additional 405 shares during the period. Tower Research Capital LLC TRC grew its holdings in GigaCloud Technology by 25.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock worth $47,000 after acquiring an additional 483 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of GigaCloud Technology by 5.6% in the second quarter. Stratos Wealth Partners LTD. now owns 10,945 shares of the company’s stock valued at $217,000 after acquiring an additional 585 shares during the period. Jones Financial Companies Lllp raised its stake in shares of GigaCloud Technology by 184.6% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after acquiring an additional 589 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of GigaCloud Technology by 31.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,209 shares of the company’s stock worth $123,000 after purchasing an additional 1,489 shares during the period. Institutional investors own 34.94% of the company’s stock.

GigaCloud Technology Stock Performance

GCT stock opened at $35.23 on Tuesday. GigaCloud Technology Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $44.71. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.55 and a beta of 2.28. The business’s 50 day moving average price is $39.86 and its two-hundred day moving average price is $33.30.

Insider Buying and Selling at GigaCloud Technology

In other GigaCloud Technology news, CEO Lei Wu sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $40.78, for a total transaction of $815,600.00. Following the completion of the transaction, the chief executive officer owned 678,090 shares of the company’s stock, valued at approximately $27,652,510.20. This trade represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Xinyan Hao sold 800 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $40.04, for a total transaction of $32,032.00. Following the sale, the chief operating officer owned 357,486 shares in the company, valued at approximately $14,313,739.44. This trade represents a 0.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 301,229 shares of company stock worth $11,539,589. 24.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 27th. Wall Street Zen upgraded GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Zacks Research lowered GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, GigaCloud Technology currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

GigaCloud Technology Profile

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.