68,455 Shares in RXO, Inc. (NYSE:RXO) Acquired by Marshall Wace LLP

Marshall Wace LLP acquired a new stake in RXO, Inc. (NYSE:RXO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 68,455 shares of the company’s stock, valued at approximately $1,790,000. Marshall Wace LLP owned about 0.06% of RXO as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MFN Partners Management LP raised its holdings in shares of RXO by 11.0% in the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock valued at $452,679,000 after buying an additional 1,722,301 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of RXO by 0.3% in the first quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock worth $290,750,000 after acquiring an additional 45,977 shares during the last quarter. Swedbank AB bought a new position in shares of RXO in the first quarter worth about $76,982,000. Douglas Lane & Associates LLC lifted its position in shares of RXO by 2.0% during the second quarter. Douglas Lane & Associates LLC now owns 2,698,525 shares of the company’s stock worth $70,566,000 after purchasing an additional 52,378 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of RXO by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock valued at $53,153,000 after purchasing an additional 176,041 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Price Performance

RXO opened at $27.21 on Friday. The stock has a market cap of $3.77 billion, a P/E ratio of -302.33, a P/E/G ratio of 13.28 and a beta of 1.34. RXO, Inc. has a 12 month low of $16.94 and a 12 month high of $32.82. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $28.06 and a 200 day simple moving average of $24.37.

RXO (NYSE:RXO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The company had revenue of $930.00 million during the quarter, compared to the consensus estimate of $934.14 million. During the same period in the prior year, the company earned $0.08 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, research analysts expect that RXO, Inc. will post 0.14 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on RXO shares. Barclays upped their price objective on RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Oppenheimer reaffirmed an “outperform” rating and set a $31.00 price target on shares of RXO in a research note on Tuesday, September 17th. Susquehanna lowered their price objective on RXO from $20.00 to $16.00 and set a “negative” rating for the company in a research report on Thursday, September 26th. Morgan Stanley boosted their price objective on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, TD Cowen raised their target price on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.