Readystate Asset Management LP Raises Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Readystate Asset Management LP increased its position in GXO Logistics, Inc. (NYSE:GXO) by 27.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,254 shares of the company’s stock after acquiring an additional 17,854 shares during the period. Readystate Asset Management LP’s holdings in GXO Logistics were worth $5,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in GXO Logistics by 217.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the company’s stock worth $27,000 after acquiring an additional 291 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in GXO Logistics in the 3rd quarter worth $31,000. Geneos Wealth Management Inc. purchased a new position in GXO Logistics in the 1st quarter worth $39,000. Coppell Advisory Solutions LLC purchased a new position in GXO Logistics in the 2nd quarter worth $48,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in GXO Logistics by 58.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 870 shares of the company’s stock worth $44,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Price Performance

Shares of NYSE:GXO traded down $1.08 during trading on Wednesday, reaching $48.85. 753,544 shares of the company’s stock traded hands, compared to its average volume of 883,603. GXO Logistics, Inc. has a fifty-two week low of $48.12 and a fifty-two week high of $67.57. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.83 billion, a PE ratio of 25.58, a P/E/G ratio of 2.12 and a beta of 1.64. The company has a 50-day simple moving average of $51.84 and a 200-day simple moving average of $54.82.

GXO Logistics (NYSE:GXO) last posted its earnings results on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts predict that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

Insider Activity

In related news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the sale, the director now directly owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stifel Nicolaus raised their target price on GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Susquehanna lifted their price objective on GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research note on Thursday, February 15th. TD Cowen lifted their price objective on GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. reduced their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Finally, BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Wednesday, March 27th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, GXO Logistics currently has an average rating of “Moderate Buy” and a consensus price target of $69.17.

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.