Magnetar Financial LLC Cuts Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

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

Other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. increased its holdings in GXO Logistics by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 1,126,959 shares of the company’s stock valued at $68,925,000 after buying an additional 33,320 shares during the last quarter. Bayberry Capital Partners LP increased its holdings in GXO Logistics by 46.9% in the fourth quarter. Bayberry Capital Partners LP now owns 238,000 shares of the company’s stock valued at $14,556,000 after buying an additional 76,000 shares during the last quarter. Retirement Systems of Alabama increased its holdings in GXO Logistics by 6.1% in the first quarter. Retirement Systems of Alabama now owns 318,034 shares of the company’s stock valued at $17,098,000 after buying an additional 18,184 shares during the last quarter. George Kaiser Family Foundation purchased a new position in GXO Logistics in the first quarter valued at $1,014,000. Finally, Motley Fool Wealth Management LLC boosted its stake in GXO Logistics by 59.8% in the fourth quarter. Motley Fool Wealth Management LLC now owns 184,398 shares of the company’s stock valued at $11,258,000 after acquiring an additional 68,989 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Performance

GXO traded up $0.39 during trading on Friday, reaching $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 52-week low of $46.38 and a 52-week high of $67.36. The company’s fifty day moving average price is $50.61 and its 200-day moving average price is $51.94. 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 quick ratio of 0.94 and a current ratio of 0.94.

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

Insider Activity

In related news, CEO Malcolm Wilson purchased 10,000 shares of GXO Logistics stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the transaction, the chief executive officer now owns 100,814 shares in the company, valued at $5,035,659.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GXO shares. TD Cowen upped their price objective on shares of GXO Logistics from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price objective on shares of GXO Logistics in a research note on Wednesday, May 15th. JPMorgan Chase & Co. upped their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Loop Capital decreased their target price on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Morgan Stanley reissued an “overweight” rating and set a $70.00 price target on shares of GXO Logistics in a report on Tuesday, May 14th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.00.

GXO Logistics 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.