GXO Logistics, Inc. $GXO Position Decreased by Ionic Capital Management LLC

Key Points

• Ionic Capital Management LLC reduced its stake in GXO Logistics by 17.1%, now holding 81,449 shares valued at approximately $3.18 million, which constitutes 0.4% of its portfolio.
• Several institutional investors, including Orbis Allan Gray Ltd and AllianceBernstein L.P., have significantly increased their positions in GXO Logistics during the same period, indicating growing institutional confidence.
• GXO Logistics reported a strong quarterly performance with a revenue of $3.30 billion, surpassing consensus estimates, and a net margin of 0.50% while earning $0.57 EPS, slightly above expectations.

Ionic Capital Management LLC lessened its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 17.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,449 shares of the company's stock after selling 16,818 shares during the period. GXO Logistics accounts for about 0.4% of Ionic Capital Management LLC's holdings, making the stock its 7th biggest position. Ionic Capital Management LLC owned approximately 0.07% of GXO Logistics worth $3,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after acquiring an additional 689 shares during the period. GAMMA Investing LLC increased its position in GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after acquiring an additional 302 shares during the period. Golden State Wealth Management LLC acquired a new position in GXO Logistics in the 1st quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. increased its position in GXO Logistics by 72.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock valued at $37,000 after acquiring an additional 396 shares during the period. Finally, Covestor Ltd increased its position in GXO Logistics by 63.2% in the 1st quarter. Covestor Ltd now owns 1,645 shares of the company's stock valued at $64,000 after acquiring an additional 637 shares during the period. Institutional investors and hedge funds own 90.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. UBS Group boosted their target price on GXO Logistics from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wells Fargo & Company boosted their target price on GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer boosted their target price on GXO Logistics from $55.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Truist Financial upgraded 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 research report on Friday, July 11th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.50.

GXO Logistics Price Performance

GXO stock traded down $1.44 on Tuesday, reaching $50.83. The company had a trading volume of 1,459,190 shares, compared to its average volume of 1,403,414. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $63.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76. The company's fifty day moving average is $51.49 and its 200 day moving average is $43.74. The company has a market cap of $5.82 billion, a P/E ratio of 95.91, a PEG ratio of 2.11 and a beta of 1.65.

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

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.