RXO, Inc. (NYSE:RXO) Shares Bought by SG Capital Management LLC

SG Capital Management LLC lifted its position in shares of RXO, Inc. (NYSE:RXO) by 139.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 213,892 shares of the company’s stock after acquiring an additional 124,525 shares during the period. RXO accounts for 1.5% of SG Capital Management LLC’s portfolio, making the stock its 25th biggest holding. SG Capital Management LLC owned about 0.18% of RXO worth $4,678,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RXO. Illinois Municipal Retirement Fund grew its position in RXO by 0.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock worth $1,513,000 after purchasing an additional 543 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in RXO by 1.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after buying an additional 820 shares in the last quarter. Hohimer Wealth Management LLC increased its position in RXO by 2.4% in the 4th quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock valued at $1,079,000 after acquiring an additional 1,109 shares during the period. GAMMA Investing LLC bought a new stake in RXO during the 4th quarter valued at $27,000. Finally, Texas Permanent School Fund Corp boosted its position in RXO by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 102,420 shares of the company’s stock worth $2,240,000 after acquiring an additional 1,348 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Ratings Changes

RXO has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Raymond James initiated coverage on shares of RXO in a research note on Wednesday, May 15th. They set a “market perform” rating on the stock. TD Cowen lifted their price objective on shares of RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Stephens restated an “equal weight” rating and set a $22.00 price objective on shares of RXO in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of RXO from $16.00 to $25.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.00.

RXO Price Performance

RXO traded down $1.63 during trading on Friday, reaching $29.57. The company had a trading volume of 699,264 shares, compared to its average volume of 791,132. The firm’s 50-day simple moving average is $25.12 and its 200 day simple moving average is $22.38. RXO, Inc. has a 12-month low of $16.94 and a 12-month high of $32.82. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. RXO’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. As a group, equities analysts forecast that RXO, Inc. will post 0.17 earnings per share for the current fiscal year.

RXO 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.