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Recent Insider Activity Could Benefit GXO Logistics Inc (GXO)

GXO Logistics Inc’s filing revealed that its Director Ashe Gena L unloaded Company’s shares for reported $0.67 million on Mar 08 ’24. In the deal valued at $50.00 per share,13,370 shares were sold. As a result of this transaction, Ashe Gena L now holds 7,481 shares worth roughly $0.38 million.

Then, Ashe Gena L sold 4,737 shares, generating $236,850 in total proceeds. Upon selling the shares at $50.00, the Director now owns 20,851 shares.

Before that, Ashe Gena L sold 10,526 shares. GXO Logistics Inc shares valued at $612,048 were divested by the Director at a price of $58.15 per share. As a result of the transaction, Ashe Gena L now holds 15,062 shares, worth roughly $0.77 million.

TD Cowen reiterated its GXO Logistics Inc [GXO] rating to a Buy in a research note published on April 25, 2024; the price target was $80. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who increased its forecast for the stock in late March from “an Underperform” to “a Neutral”. TD Cowen also remained covering GXO and reiterated its “an Outperform” recommendation on February 15, 2024. TD Cowen maintained its rating on January 12, 2024. It rated GXO as “an Outperform”.

Price Performance Review of GXO

On Monday, GXO Logistics Inc [NYSE:GXO] saw its stock jump 0.89% to $50.96. Over the last five days, the stock has gained 2.47%. GXO Logistics Inc shares have fallen nearly -16.68% since the year began. Nevertheless, the stocks have risen 0.20% over the past one year. While a 52-week high of $67.57 was reached on 01/02/24, a 52-week low of $48.11 was recorded on 04/18/24. SMA at 50 days reached $50.92, while 200 days put it at $56.64. A total of 0.62 million shares were traded, compared to the trading of 1.05 million shares in the previous session.

Levels Of Support And Resistance For GXO Stock

The 24-hour chart illustrates a support level at 50.55, which if violated will result in even more drops to 50.13. On the upside, there is a resistance level at 51.51. A further resistance level may holdings at 52.06. The Relative Strength Index (RSI) on the 14-day chart is 51.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.62, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 32.46%. Stochastics %K at 50.08% indicates the stock is a holding.

The most recent change occurred on August 22, 2023 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $74 price target.

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