GAMMA Investing LLC Boosts Holdings in Rxo Inc (NYSE:RXO)

GAMMA Investing LLC boosted its position in shares of Rxo Inc (NYSE:RXO - Free Report) by 1,728.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,997 shares of the company's stock after purchasing an additional 34,974 shares during the period. GAMMA Investing LLC's holdings in RXO were worth $707,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RXO. Blue Trust Inc. grew its holdings in RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after purchasing an additional 510 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in RXO by 228.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after buying an additional 868 shares during the period. Mackenzie Financial Corp boosted its position in RXO by 37.2% in the 4th quarter. Mackenzie Financial Corp now owns 9,967 shares of the company's stock valued at $238,000 after buying an additional 2,700 shares during the period. Rialto Wealth Management LLC purchased a new stake in RXO in the 4th quarter valued at about $267,000. Finally, Xponance Inc. boosted its position in RXO by 29.6% in the 4th quarter. Xponance Inc. now owns 11,508 shares of the company's stock valued at $274,000 after buying an additional 2,631 shares during the period. 92.73% of the stock is currently owned by institutional investors.

RXO Stock Down 1.8%

NYSE:RXO traded down $0.27 during midday trading on Friday, reaching $15.19. 2,434,359 shares of the stock traded hands, compared to its average volume of 1,322,702. Rxo Inc has a 12-month low of $12.19 and a 12-month high of $32.82. The business has a 50-day moving average of $15.00 and a two-hundred day moving average of $19.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $2.49 billion, a PE ratio of -7.00, a price-to-earnings-growth ratio of 6.39 and a beta of 1.73.

RXO (NYSE:RXO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the previous year, the company earned ($0.03) EPS. The company's revenue was up 57.0% on a year-over-year basis. On average, equities analysts forecast that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Oppenheimer cut shares of RXO from an "outperform" rating to a "market perform" rating in a research report on Friday, April 4th. Jefferies Financial Group lowered their price objective on shares of RXO from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, April 11th. UBS Group lowered their price objective on shares of RXO from $24.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Stifel Nicolaus lowered their price objective on shares of RXO from $24.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Finally, Truist Financial lowered their price objective on shares of RXO from $24.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $20.00.

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.