GXO Logistics, Inc. $GXO Shares Sold by Clearline Capital LP

Key Points

• Clearline Capital LP reduced its stake in GXO Logistics by 43.3%, owning 132,766 shares worth approximately $5.19 million after selling 101,522 shares in Q1.
• In the last earnings report, GXO reported $0.57 EPS, exceeding analysts' expectations and boasting a 15.9% year-over-year revenue increase to $3.30 billion.
• GXO Logistics has received multiple upgrades from analysts, with a consensus target price now at $59.50 and ratings predominantly indicating a "Moderate Buy".

Clearline Capital LP trimmed its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 43.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,766 shares of the company's stock after selling 101,522 shares during the period. Clearline Capital LP owned about 0.12% of GXO Logistics worth $5,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC lifted its position in shares of GXO Logistics by 4.3% during the first quarter. Ashton Thomas Private Wealth LLC now owns 11,131 shares of the company's stock valued at $435,000 after buying an additional 464 shares during the last quarter. Resources Management Corp CT ADV lifted its position in shares of GXO Logistics by 7.7% during the first quarter. Resources Management Corp CT ADV now owns 26,364 shares of the company's stock valued at $1,030,000 after buying an additional 1,885 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of GXO Logistics by 13.6% during the first quarter. Dynamic Technology Lab Private Ltd now owns 21,391 shares of the company's stock valued at $836,000 after buying an additional 2,562 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of GXO Logistics by 29.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,867 shares of the company's stock valued at $1,568,000 after buying an additional 9,134 shares during the last quarter. Finally, Engaged Capital LLC purchased a new stake in shares of GXO Logistics during the first quarter valued at about $35,641,000. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Stock Performance

NYSE:GXO traded down $0.48 during midday trading on Friday, hitting $51.08. The company's stock had a trading volume of 959,894 shares, compared to its average volume of 864,964. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.33. The firm's 50 day moving average is $51.53 and its 200-day moving average is $43.99. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $5.85 billion, a P/E ratio of 96.37, a P/E/G ratio of 2.07 and a beta of 1.65.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company earned $0.55 EPS. GXO Logistics's quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on GXO. Wells Fargo & Company increased their price target on shares of GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Stifel Nicolaus increased their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Susquehanna increased their price objective on shares of GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. UBS Group increased their price objective on shares of GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Barclays increased their price objective on shares of GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

About GXO Logistics

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.