Pacer Advisors Inc. Trims Stock Position in GigaCloud Technology Inc. $GCT

Pacer Advisors Inc. trimmed its stake in GigaCloud Technology Inc. (NASDAQ:GCT) by 23.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,561 shares of the company’s stock after selling 56,405 shares during the period. Pacer Advisors Inc. owned approximately 0.50% of GigaCloud Technology worth $7,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in GigaCloud Technology by 184.6% in 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 in the last quarter. Quarry LP acquired a new stake in shares of GigaCloud Technology in the 3rd quarter valued at about $29,000. Larson Financial Group LLC acquired a new stake in shares of GigaCloud Technology in the 3rd quarter valued at about $30,000. Caitong International Asset Management Co. Ltd purchased a new position in GigaCloud Technology during the 3rd quarter worth approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in GigaCloud Technology during the fourth quarter worth approximately $44,000. 34.94% of the stock is currently owned by institutional investors and hedge funds.

GigaCloud Technology Stock Performance

Shares of GCT opened at $33.98 on Monday. GigaCloud Technology Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $51.86. The firm has a 50-day simple moving average of $39.54 and a 200-day simple moving average of $40.23. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 8.54 and a beta of 1.69.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings results on Friday, May 8th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.17. The firm had revenue of $359.49 million for the quarter, compared to analysts’ expectations of $342.57 million. GigaCloud Technology had a return on equity of 31.48% and a net margin of 10.77%.The firm’s revenue for the quarter was up 32.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Equities research analysts forecast that GigaCloud Technology Inc. will post 4.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GCT shares. Zacks Research cut GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 8th. Finally, Wall Street Zen cut shares of GigaCloud Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.00.

GigaCloud Technology Company 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.