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

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

A number of other large investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of RXO in the fourth quarter worth about $1,588,000. Charles Schwab Investment Management Inc. increased its holdings in shares of RXO by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company's stock worth $51,138,000 after buying an additional 76,653 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of RXO by 111.5% during the 4th quarter. JPMorgan Chase & Co. now owns 575,286 shares of the company's stock worth $13,715,000 after buying an additional 303,224 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of RXO by 11.6% during the 4th quarter. Victory Capital Management Inc. now owns 849,340 shares of the company's stock worth $20,248,000 after purchasing an additional 88,110 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of RXO by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 939,846 shares of the company's stock worth $22,406,000 after purchasing an additional 64,522 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Stock Performance

NYSE:RXO opened at $15.10 on Wednesday. The firm has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $19.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $2.48 billion, a PE ratio of -6.96, a P/E/G ratio of 6.56 and a beta of 1.73. Rxo Inc has a 1-year low of $12.19 and a 1-year high of $32.82.

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 firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.51 billion. RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. The business's quarterly revenue was up 57.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. On average, equities analysts expect that Rxo Inc will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on RXO. Susquehanna decreased their price target on shares of RXO from $18.00 to $13.00 and set a "negative" rating for the company in a research report on Wednesday, March 26th. Jefferies Financial Group cut their price target on shares of RXO from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Stifel Nicolaus dropped their price objective on shares of RXO from $24.00 to $14.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. Truist Financial dropped their price objective on shares of RXO from $24.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Bank of America lifted their target price on shares of RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Two investment 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. According to data from MarketBeat, RXO presently has an average rating of "Hold" and a consensus price target of $20.00.

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.

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