Traynor Capital Management Inc. Lowers Position in GXO Logistics, Inc. (NYSE:GXO)

Traynor Capital Management Inc. decreased its position in GXO Logistics, Inc. (NYSE:GXO) by 12.6% during the 1st quarter, Holdings Channel reports. The fund owned 9,465 shares of the company’s stock after selling 1,360 shares during the quarter. Traynor Capital Management Inc.’s holdings in GXO Logistics were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of GXO Logistics in the third quarter valued at about $31,000. Headlands Technologies LLC acquired a new stake in shares of GXO Logistics in the fourth quarter valued at about $59,000. CWM LLC lifted its stake in shares of GXO Logistics by 28.1% in the fourth quarter. CWM LLC now owns 1,778 shares of the company’s stock valued at $109,000 after purchasing an additional 390 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of GXO Logistics by 16.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $122,000 after purchasing an additional 287 shares during the period. Finally, KBC Group NV acquired a new stake in shares of GXO Logistics in the fourth quarter valued at about $135,000. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Insider Activity

In other news, CEO Malcolm Wilson acquired 10,000 shares of the business’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 completion of the transaction, 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 legal filing with the SEC, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on GXO shares. Wells Fargo & Company started coverage on shares of GXO Logistics in a research note on Friday, June 7th. They issued an “overweight” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price objective on shares of GXO Logistics in a research note on Wednesday, May 15th. Loop Capital reduced 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. Finally, BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.85.

GXO Logistics Stock Performance

NYSE:GXO 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. 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 firm has a market cap of $5.90 billion, a PE ratio of 35.51, a P/E/G ratio of 1.44 and a beta of 1.61. GXO Logistics, Inc. has a 1-year low of $46.38 and a 1-year high of $67.57.

GXO Logistics (NYSE:GXO) last posted 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. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.38 billion. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, equities analysts expect that GXO Logistics, Inc. will post 2.77 EPS for the current 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.