GXO Logistics, Inc. (NYSE:GXO) Short Interest Up 25.0% in November
GXO Logistics, Inc. (NYSE:GXO – Get Rating) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 4,750,000 shares, an increase of 25.0% from the October 31st total of 3,800,000 shares. Currently, 4.1% of the company’s shares are sold short. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is presently 4.0 days.
GXO Logistics Stock Up 0.9 %
Shares of GXO Logistics stock traded up $0.42 on Friday, reaching $46.77. The company’s stock had a trading volume of 721,756 shares, compared to its average volume of 1,254,642. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 1.39 and a beta of 1.57. The firm’s fifty day simple moving average is $38.48 and its two-hundred day simple moving average is $43.72. GXO Logistics has a 52 week low of $32.10 and a 52 week high of $96.82. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.
Analyst Upgrades and Downgrades
GXO has been the subject of a number of research analyst reports. Cowen lowered their target price on GXO Logistics from $67.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday, September 27th. Jefferies Financial Group initiated coverage on GXO Logistics in a research note on Monday, October 24th. They issued a “buy” rating and a $70.00 target price for the company. Susquehanna lowered their target price on GXO Logistics from $55.00 to $54.00 in a research note on Thursday, November 10th. Citigroup lowered their target price on GXO Logistics from $61.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, October 7th. Finally, Cowen lowered their target price on GXO Logistics from $67.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday, September 27th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.33.
Insider Transactions at GXO Logistics
In other GXO Logistics news, CEO Malcolm Wilson acquired 4,174 shares of the business’s stock in a transaction dated Friday, November 25th. The shares were purchased at an average cost of $43.97 per share, for a total transaction of $183,530.78. Following the transaction, the chief executive officer now owns 45,509 shares in the company, valued at $2,001,030.73. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 11.10% of the company’s stock.
Institutional Trading of GXO Logistics
Institutional investors and hedge funds have recently modified their holdings of the business. Ellevest Inc. increased its holdings in shares of GXO Logistics by 337.7% in the 2nd quarter. Ellevest Inc. now owns 696 shares of the company’s stock worth $30,000 after purchasing an additional 537 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of GXO Logistics in the third quarter worth $30,000. Prospera Financial Services Inc bought a new stake in shares of GXO Logistics in the first quarter worth $31,000. HBK Sorce Advisory LLC bought a new stake in shares of GXO Logistics in the third quarter worth $31,000. Finally, Fifth Third Bancorp grew its holdings in shares of GXO Logistics by 93.6% in the third quarter. Fifth Third Bancorp now owns 904 shares of the company’s stock worth $32,000 after acquiring an additional 437 shares during the period. Institutional investors own 83.54% of the company’s stock.
GXO Logistics Company Profile
GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.
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