Exchange Traded Concepts LLC Sells 40,038 Shares of GXO Logistics, Inc. $GXO

Key Points

• Exchange Traded Concepts LLC reduced its stake in GXO Logistics by 14.3%, selling 40,038 shares, leaving it with 239,857 shares valued at approximately $11.7 million.
• Several institutional investors increased their positions in GXO, with Larson Financial Group LLC raising their stake by an impressive 2,460.7% in the first quarter.
• GXO Logistics reported a quarterly earnings per share of $0.57, which exceeded analysts' estimates of $0.56, alongside a year-over-year revenue increase of 15.9% to $3.30 billion.

Exchange Traded Concepts LLC cut its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 14.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,857 shares of the company's stock after selling 40,038 shares during the quarter. Exchange Traded Concepts LLC owned 0.21% of GXO Logistics worth $11,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gilman Hill Asset Management LLC grew its holdings in shares of GXO Logistics by 1.4% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 99,525 shares of the company's stock valued at $4,847,000 after purchasing an additional 1,357 shares during the last quarter. Gateway Investment Advisers LLC bought a new stake in GXO Logistics during the 2nd quarter worth approximately $209,000. Fiduciary Alliance LLC bought a new stake in GXO Logistics during the 2nd quarter worth approximately $223,000. First Bank & Trust bought a new stake in GXO Logistics during the 2nd quarter worth approximately $271,000. Finally, Parallel Advisors LLC grew its holdings in GXO Logistics by 18.4% during the 2nd quarter. Parallel Advisors LLC now owns 3,443 shares of the company's stock worth $168,000 after acquiring an additional 534 shares during the last quarter. 90.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GXO shares. Susquehanna boosted their target price on shares of GXO Logistics from $58.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of GXO Logistics from $56.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Stifel Nicolaus boosted their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Truist Financial raised shares of GXO Logistics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $48.00 to $62.00 in a report on Friday, July 11th. Finally, Citigroup boosted their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

GXO Logistics Trading Up 0.4%

Shares of NYSE:GXO traded up $0.19 during trading on Monday, reaching $49.85. The stock had a trading volume of 944,753 shares, compared to its average volume of 882,343. The firm's fifty day moving average is $51.46 and its 200 day moving average is $44.55. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 94.06, a P/E/G ratio of 1.99 and a beta of 1.65.

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

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.