Magnetar Financial LLC Makes New $385,000 Investment in GXO Logistics, Inc. (NYSE:GXO)

Magnetar Financial LLC bought a new position in GXO Logistics, Inc. (NYSE:GXO) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,840 shares of the company’s stock, valued at approximately $385,000.

Several other hedge funds have also made changes to their positions in the company. Arizona State Retirement System lifted its holdings in shares of GXO Logistics by 0.8% in the 4th quarter. Arizona State Retirement System now owns 34,671 shares of the company’s stock worth $1,508,000 after buying an additional 281 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of GXO Logistics by 33.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after purchasing an additional 290 shares during the last quarter. Pacer Advisors Inc. raised its stake in GXO Logistics by 1.1% in the fourth quarter. Pacer Advisors Inc. now owns 30,815 shares of the company’s stock valued at $1,340,000 after buying an additional 338 shares during the last quarter. Stablepoint Partners LLC raised its stake in GXO Logistics by 4.2% in the fourth quarter. Stablepoint Partners LLC now owns 15,916 shares of the company’s stock valued at $692,000 after buying an additional 637 shares during the last quarter. Finally, Truist Financial Corp raised its stake in GXO Logistics by 4.0% in the fourth quarter. Truist Financial Corp now owns 17,581 shares of the company’s stock valued at $765,000 after buying an additional 675 shares during the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GXO. Loop Capital cut GXO Logistics from a “buy” rating to a “hold” rating and decreased their price target for the company from $71.00 to $49.00 in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft began coverage on GXO Logistics in a research note on Friday, March 7th. They issued a “hold” rating and a $45.00 price target for the company. Truist Financial initiated coverage on GXO Logistics in a research note on Thursday, March 13th. They issued a “hold” rating and a $40.00 price target for the company. Barclays cut their price objective on GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Finally, UBS Group cut their price objective on GXO Logistics from $72.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.60.

GXO Logistics Stock Down 0.7 %

GXO Logistics stock opened at $40.39 on Friday. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. GXO Logistics, Inc. has a 52 week low of $34.51 and a 52 week high of $63.33. The business’s 50-day moving average price is $41.70 and its 200 day moving average price is $49.12. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

GXO Logistics (NYSE:GXO) last posted its earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. As a group, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.49 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.