11,830 Shares in RXO, Inc. (NYSE:RXO) Bought by Algert Global LLC

Algert Global LLC acquired a new stake in RXO, Inc. (NYSE:RXO) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,830 shares of the company’s stock, valued at approximately $309,000.

Several other hedge funds have also recently added to or reduced their stakes in RXO. MFN Partners Management LP increased its stake in shares of RXO by 11.0% in the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock valued at $452,679,000 after acquiring an additional 1,722,301 shares during the last quarter. Vanguard Group Inc. grew its holdings in RXO by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock valued at $290,750,000 after purchasing an additional 45,977 shares during the period. Swedbank AB bought a new stake in RXO in the first quarter valued at approximately $76,982,000. Douglas Lane & Associates LLC raised its holdings in RXO by 2.0% in 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 during the period. Finally, Dimensional Fund Advisors LP boosted its position 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 worth $53,153,000 after purchasing an additional 176,041 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Stock Performance

Shares of RXO opened at $27.62 on Wednesday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -308.78, a PEG 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 firm has a fifty day simple moving average of $27.98 and a 200 day simple moving average of $24.48. 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 posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $930.00 million during the quarter, compared to the consensus estimate of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. Research analysts forecast that RXO, Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on RXO shares. Jefferies Financial Group lowered their price objective on shares of RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Susquehanna dropped their price target on RXO from $20.00 to $16.00 and set a “negative” rating on the stock in a research report on Thursday, September 26th. Barclays lifted their price objective on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Morgan Stanley increased their target price on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, UBS Group lifted their price target on shares of RXO from $22.00 to $31.00 and gave the company a “neutral” 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. Based on data from MarketBeat.com, RXO currently has an average 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.