D. E. Shaw & Co. Inc. Cuts Holdings in RXO, Inc. (NYSE:RXO)

D. E. Shaw & Co. Inc. decreased its position in RXO, Inc. (NYSE:RXO - Free Report) by 42.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,261 shares of the company's stock after selling 27,864 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in RXO were worth $912,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of RXO by 79.7% in the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after buying an additional 510 shares during the last quarter. 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 buying an additional 868 shares in the last quarter. 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 buying an additional 1,672 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of RXO during the fourth quarter valued at approximately $267,000. Finally, Xponance Inc. increased its position in shares of RXO by 29.6% during the fourth quarter. Xponance Inc. now owns 11,508 shares of the company's stock valued at $274,000 after acquiring an additional 2,631 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays cut their target price on RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial dropped their price objective on RXO from $24.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Bank of America lifted their price objective on RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wells Fargo & Company dropped their price target on shares of RXO from $20.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Finally, Jefferies Financial Group reduced their price target on shares of RXO from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $20.00.

RXO Stock Performance

RXO stock traded up $0.25 during trading on Thursday, reaching $15.75. The company had a trading volume of 1,598,631 shares, compared to its average volume of 1,263,122. The firm's 50-day simple moving average is $15.20 and its 200 day simple moving average is $21.08. RXO, Inc. has a 52 week low of $12.19 and a 52 week high of $32.82. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -7.43, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.51 billion. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The firm's quarterly revenue was up 57.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) earnings per share. Sell-side analysts forecast that RXO, Inc. will post 0.31 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.