22,140 Shares in RXO, Inc. (NYSE:RXO) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new stake in shares of RXO, Inc. (NYSE:RXO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,140 shares of the company's stock, valued at approximately $528,000.

A number of other hedge funds have also recently made changes to their positions in RXO. Blue Trust Inc. lifted its stake in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after acquiring an additional 510 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of RXO by 228.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock worth $30,000 after acquiring an additional 868 shares during the period. KBC Group NV lifted its stake in shares of RXO by 41.2% in the fourth quarter. KBC Group NV now owns 5,727 shares of the company's stock worth $137,000 after acquiring an additional 1,672 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of RXO in the fourth quarter worth approximately $267,000. Finally, Xponance Inc. lifted its stake in shares of RXO by 29.6% in the fourth quarter. Xponance Inc. now owns 11,508 shares of the company's stock worth $274,000 after acquiring an additional 2,631 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on RXO. Wells Fargo & Company cut their price objective on RXO from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Jefferies Financial Group cut their price objective on RXO from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group cut their price objective on RXO from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Truist Financial cut their price objective on RXO from $24.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup reiterated a "neutral" rating and issued a $18.00 target price (up from $15.00) on shares of RXO in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, RXO has an average rating of "Hold" and a consensus price target of $20.00.

RXO Stock Up 1.6%

Shares of NYSE RXO traded up $0.25 during midday trading on Thursday, hitting $15.75. 1,598,631 shares of the stock traded hands, compared to its average volume of 1,263,122. The company has a market cap of $2.58 billion, a PE ratio of -7.43, a P/E/G ratio of 4.55 and a beta of 1.71. RXO, Inc. has a one year low of $12.19 and a one year high of $32.82. The business has a 50 day moving average price of $15.20 and a two-hundred day moving average price of $21.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The company's revenue was up 57.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. On average, equities analysts predict that RXO, Inc. will post 0.31 EPS for the current year.

About RXO

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.