Driehaus Capital Management LLC Purchases New Shares in RXO, Inc. (NYSE:RXO)

Driehaus Capital Management LLC purchased a new stake in RXO, Inc. (NYSE:RXO) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 763,462 shares of the company’s stock, valued at approximately $19,965,000. Driehaus Capital Management LLC owned 0.65% of RXO as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC grew its stake in RXO by 2.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock valued at $57,871,000 after acquiring an additional 66,757 shares during the period. Norges Bank acquired a new stake in RXO during the 4th quarter worth $24,250,000. GSA Capital Partners LLP boosted its stake in RXO by 433.8% during the 1st quarter. GSA Capital Partners LLP now owns 56,002 shares of the company’s stock worth $1,225,000 after purchasing an additional 45,510 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in RXO during the 1st quarter worth $542,000. Finally, Boston Partners boosted its stake in RXO by 150.0% during the 1st quarter. Boston Partners now owns 42,526 shares of the company’s stock worth $930,000 after purchasing an additional 25,519 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Stock Up 1.0 %

Shares of RXO opened at $27.53 on Friday. The firm has a market cap of $3.82 billion, a P/E ratio of -305.89, a price-to-earnings-growth ratio of 13.22 and a beta of 1.35. RXO, Inc. has a 12-month low of $16.94 and a 12-month high of $32.82. The company’s 50-day moving average price is $28.34 and its 200 day moving average price is $24.15. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64.

RXO (NYSE:RXO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $930.00 million for the quarter, compared to analyst estimates of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. RXO’s revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. On average, sell-side analysts forecast that RXO, Inc. will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RXO. TD Cowen lifted their target price on shares of RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Morgan Stanley boosted their price target on shares of RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Barclays boosted their price target on shares of RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group lowered their price target on shares of RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.67.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.