GXO Logistics Target of Unusually Large Options Trading (NYSE:GXO)

GXO Logistics, Inc. (NYSE:GXO) was the target of unusually large options trading on Thursday. Traders purchased 20,046 put options on the company. This represents an increase of 1,067% compared to the average daily volume of 1,718 put options.

Insider Buying and Selling

In other GXO Logistics news, CEO Malcolm Wilson bought 10,000 shares of GXO Logistics stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the acquisition, the chief executive officer now owns 100,814 shares of the company’s stock, valued at approximately $5,035,659.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Eminence Capital LP acquired a new stake in shares of GXO Logistics in the 2nd quarter valued at $79,698,000. Swedbank AB acquired a new stake in GXO Logistics in the first quarter valued at about $84,672,000. Norges Bank bought a new position in GXO Logistics in the fourth quarter valued at about $65,002,000. Spruce House Investment Management LLC grew its position in GXO Logistics by 827.8% in the second quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock valued at $45,450,000 after acquiring an additional 803,000 shares during the last quarter. Finally, Fort Pitt Capital Group LLC raised its stake in GXO Logistics by 60.4% during the first quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after acquiring an additional 698,180 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

GXO Logistics Trading Up 1.7 %

Shares of NYSE:GXO opened at $48.47 on Friday. The business’s 50 day simple moving average is $50.55 and its 200 day simple moving average is $50.58. GXO Logistics has a 1 year low of $46.07 and a 1 year high of $63.07. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $5.79 billion, a P/E ratio of 34.87, a P/E/G ratio of 1.50 and a beta of 1.58.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. On average, research analysts anticipate that GXO Logistics will post 2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stifel Nicolaus reissued a “buy” rating and set a $74.00 price target on shares of GXO Logistics in a research report on Wednesday, May 15th. Wells Fargo & Company initiated coverage on GXO Logistics in a research note on Friday, June 7th. They issued an “overweight” rating and a $58.00 price target on the stock. UBS Group reduced their price objective on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 target price on shares of GXO Logistics in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and an average price target of $67.45.

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.