GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Traynor Capital Management Inc.

Traynor Capital Management Inc. lowered its position in GXO Logistics, Inc. (NYSE:GXO) by 12.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,465 shares of the company’s stock after selling 1,360 shares during the period. Traynor Capital Management Inc.’s holdings in GXO Logistics were worth $509,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GXO. Norges Bank acquired a new position in shares of GXO Logistics in the fourth quarter worth about $65,002,000. Fort Pitt Capital Group LLC raised its position in shares of GXO Logistics by 60.4% during the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after purchasing an additional 698,180 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of GXO Logistics by 3,033.0% during the 4th quarter. Handelsbanken Fonder AB now owns 570,200 shares of the company’s stock worth $34,873,000 after purchasing an additional 552,000 shares during the last quarter. Invesco Ltd. raised its position in shares of GXO Logistics by 22.6% during the 3rd quarter. Invesco Ltd. now owns 1,466,267 shares of the company’s stock worth $85,997,000 after purchasing an additional 270,524 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of GXO Logistics during the 4th quarter worth about $8,193,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Stock Performance

GXO Logistics stock opened at $49.36 on Tuesday. The firm has a 50 day simple moving average of $50.24 and a 200-day simple moving average of $53.34. GXO Logistics, Inc. has a 1-year low of $46.38 and a 1-year high of $67.57. 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 market cap of $5.90 billion, a price-to-earnings ratio of 35.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.61.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts expect that GXO Logistics, Inc. will post 2.77 EPS for the current year.

Analyst Upgrades and Downgrades

GXO has been the subject of several research analyst reports. TD Cowen upped their price target on shares of GXO Logistics from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Wednesday, March 27th. Morgan Stanley restated an “overweight” rating and set a $70.00 price target on shares of GXO Logistics in a research report on Tuesday, May 14th. Stifel Nicolaus restated a “buy” rating and set a $74.00 price target on shares of GXO Logistics in a research report on Wednesday, May 15th. Finally, Loop Capital dropped their price objective 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. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, GXO Logistics has a consensus rating of “Moderate Buy” and a consensus price target of $68.85.

Insider Activity

In other news, CEO Malcolm Wilson purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was acquired at an average price of $49.95 per share, with a total value of $499,500.00. Following 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 document filed with the SEC, which is available at this link. Corporate insiders own 2.20% of the company’s stock.

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.