GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC cut its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 31.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,296 shares of the company’s stock after selling 10,160 shares during the period. Magnetar Financial LLC’s holdings in GXO Logistics were worth $1,199,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. LRI Investments LLC purchased a new stake in shares of GXO Logistics during the first quarter valued at $80,000. Quadrature Capital Ltd raised its position in shares of GXO Logistics by 179.9% in the first quarter. Quadrature Capital Ltd now owns 22,405 shares of the company’s stock worth $1,205,000 after acquiring an additional 14,400 shares during the period. Cloverfields Capital Group LP raised its position in shares of GXO Logistics by 1.3% during the 1st quarter. Cloverfields Capital Group LP now owns 37,909 shares of the company’s stock worth $2,038,000 after purchasing an additional 484 shares during the last quarter. Gabelli Funds LLC acquired a new position in shares of GXO Logistics during the 1st quarter worth about $446,000. Finally, Keeley Teton Advisors LLC raised its position in shares of GXO Logistics by 21.4% during the 1st quarter. Keeley Teton Advisors LLC now owns 15,301 shares of the company’s stock worth $823,000 after purchasing an additional 2,697 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Loop Capital cut their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, April 18th. JPMorgan Chase & Co. increased their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price target on shares of GXO Logistics in a research report on Wednesday, May 15th. Morgan Stanley restated an “overweight” rating and issued a $70.00 price objective on shares of GXO Logistics in a report on Tuesday, May 14th. Finally, Wells Fargo & Company began coverage on shares of GXO Logistics in a research note on Friday, June 7th. They set an “overweight” rating and a $58.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Insider Activity at GXO Logistics

In related news, CEO Malcolm Wilson purchased 10,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average price of $49.95 per share, with a total value of $499,500.00. Following the completion of the purchase, the chief executive officer now directly owns 100,814 shares in the company, valued at approximately $5,035,659.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.20% of the company’s stock.

GXO Logistics Price Performance

Shares of NYSE GXO traded up $0.39 on Friday, hitting $55.70. The company’s stock had a trading volume of 461,705 shares, compared to its average volume of 825,121. GXO Logistics, Inc. has a 12-month low of $46.38 and a 12-month high of $67.36. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 40.07, a price-to-earnings-growth ratio of 1.67 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50 day moving average of $50.61 and a 200-day moving average of $51.94.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. As a group, research analysts predict that GXO Logistics, Inc. will post 2.78 EPS for the current year.

GXO Logistics Company Profile

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.