Y Intercept Hong Kong Ltd Sells 38,867 Shares of Global Industrial Company $GIC

Y Intercept Hong Kong Ltd decreased its stake in shares of Global Industrial Company (NYSE:GIC) by 50.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 38,574 shares of the company’s stock after selling 38,867 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Global Industrial were worth $1,415,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Meritage Portfolio Management bought a new stake in shares of Global Industrial in the 2nd quarter worth approximately $2,128,000. Goldman Sachs Group Inc. raised its stake in shares of Global Industrial by 66.3% in the first quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company’s stock valued at $3,207,000 after purchasing an additional 57,056 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Global Industrial in the second quarter worth $931,000. Inspire Investing LLC acquired a new stake in Global Industrial during the second quarter worth $872,000. Finally, Marshall Wace LLP acquired a new stake in Global Industrial during the second quarter worth $756,000. Institutional investors own 31.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GIC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Global Industrial in a research report on Thursday, January 22nd. Zacks Research upgraded Global Industrial from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Global Industrial currently has a consensus rating of “Hold”.

Global Industrial Stock Up 0.2%

Shares of GIC opened at $30.65 on Friday. The stock’s fifty day simple moving average is $29.84 and its 200-day simple moving average is $32.04. The firm has a market capitalization of $1.18 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. Global Industrial Company has a 12-month low of $20.79 and a 12-month high of $38.79.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). Global Industrial had a net margin of 5.11% and a return on equity of 22.85%. The business had revenue of $353.60 million during the quarter, compared to the consensus estimate of $357.00 million. Analysts anticipate that Global Industrial Company will post 1.59 EPS for the current year.

Global Industrial Company Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.