Ionic Capital Management LLC Has $6.57 Million Stake in GXO Logistics, Inc. (NYSE:GXO)

Ionic Capital Management LLC lowered its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 8.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 126,102 shares of the company’s stock after selling 11,945 shares during the period. GXO Logistics comprises 1.1% of Ionic Capital Management LLC’s holdings, making the stock its 7th largest holding. Ionic Capital Management LLC’s holdings in GXO Logistics were worth $6,566,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GXO. Tidal Investments LLC grew its position in GXO Logistics by 84.1% during the first quarter. Tidal Investments LLC now owns 13,769 shares of the company’s stock worth $740,000 after buying an additional 6,291 shares in the last quarter. DNB Asset Management AS raised its holdings in GXO Logistics by 18.9% during the second quarter. DNB Asset Management AS now owns 11,231 shares of the company’s stock valued at $567,000 after acquiring an additional 1,782 shares during the period. Mather Group LLC. grew its stake in shares of GXO Logistics by 170.7% in the 2nd quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock worth $60,000 after buying an additional 700 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of GXO Logistics by 269.1% during the second quarter. Harbor Capital Advisors Inc. now owns 22,928 shares of the company’s stock worth $1,158,000 after purchasing an additional 16,716 shares during the last quarter. Finally, Gilman Hill Asset Management LLC increased its holdings in shares of GXO Logistics by 38.6% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 98,054 shares of the company’s stock valued at $4,952,000 after acquiring an additional 27,308 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GXO shares. Citigroup started coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. UBS Group raised their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Susquehanna cut their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. TD Cowen increased their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Oppenheimer boosted their price target on GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

GXO Logistics Stock Performance

NYSE GXO opened at $60.41 on Tuesday. The firm has a market cap of $7.22 billion, a P/E ratio of 67.12, a P/E/G ratio of 1.84 and a beta of 1.52. GXO Logistics, Inc. has a 52-week low of $46.07 and a 52-week high of $63.33. The business’s 50-day moving average price is $57.96 and its 200 day moving average price is $52.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities research analysts expect that GXO Logistics, Inc. will post 2.76 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.