GXO Logistics, Inc. (NYSE:GXO) Sees Significant Increase in Short Interest

GXO Logistics, Inc. (NYSE:GXO) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 7,150,000 shares, a growth of 20.2% from the February 13th total of 5,950,000 shares. Approximately 6.1% of the shares of the company are sold short. Based on an average daily volume of 1,710,000 shares, the days-to-cover ratio is currently 4.2 days.

Hedge Funds Weigh In On GXO Logistics

Institutional investors and hedge funds have recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new position in GXO Logistics in the 4th quarter worth about $41,000. Summit Securities Group LLC increased its stake in shares of GXO Logistics by 870.9% in the fourth quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock valued at $44,000 after buying an additional 897 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of GXO Logistics by 33.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock valued at $60,000 after buying an additional 290 shares during the period. Quarry LP increased its stake in shares of GXO Logistics by 1,334.9% in the fourth quarter. Quarry LP now owns 1,234 shares of the company’s stock valued at $54,000 after buying an additional 1,148 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of GXO Logistics in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Price Performance

Shares of GXO stock traded up $0.09 on Wednesday, hitting $40.82. 992,739 shares of the company’s stock were exchanged, compared to its average volume of 1,143,484. GXO Logistics has a 12 month low of $34.51 and a 12 month high of $63.33. The company has a 50 day moving average of $41.91 and a 200 day moving average of $49.31. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The stock has a market cap of $4.88 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO) last issued its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. On average, equities research analysts predict that GXO Logistics will post 2.49 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on GXO shares. UBS Group reduced their price target on GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Loop Capital downgraded GXO Logistics from a “buy” rating to a “hold” rating and cut their target price for the company from $71.00 to $49.00 in a research report on Monday, February 3rd. Wells Fargo & Company cut their target price on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 target price (down from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on GXO Logistics in a research report on Friday, March 7th. They set a “hold” rating and a $45.00 target price for the company. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, GXO Logistics has an average rating of “Moderate Buy” and a consensus price target of $55.60.

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.