RXO, Inc. (NYSE:RXO) Position Boosted by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in RXO, Inc. (NYSE:RXO - Free Report) by 69.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,036 shares of the company's stock after acquiring an additional 19,711 shares during the quarter. ProShare Advisors LLC's holdings in RXO were worth $1,145,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. raised its holdings in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after purchasing an additional 510 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of RXO by 228.4% in the 4th 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 grew its stake in RXO by 41.2% in the 4th quarter. KBC Group NV now owns 5,727 shares of the company's stock valued at $137,000 after acquiring an additional 1,672 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in RXO during the fourth quarter worth about $267,000. Finally, Xponance Inc. lifted its holdings in shares of RXO by 29.6% in the fourth quarter. Xponance Inc. now owns 11,508 shares of the company's stock valued at $274,000 after purchasing an additional 2,631 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their target price 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. UBS Group cut their target price on shares of RXO from $24.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Citigroup reiterated a "neutral" rating and set a $18.00 price target (up from $15.00) on shares of RXO in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft began coverage on shares of RXO in a research report on Friday, March 7th. They issued a "hold" rating and a $19.00 price objective for the company. Finally, Barclays lowered their target price on shares of RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. 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. According to data from MarketBeat, RXO currently has an average rating of "Hold" and an average target price of $20.00.

RXO Stock Down 1.4%

RXO stock traded down $0.23 during midday trading on Wednesday, hitting $15.49. 76,414 shares of the stock were exchanged, compared to its average volume of 1,252,051. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The company has a 50 day moving average price of $15.33 and a two-hundred day moving average price of $21.21. The firm has a market cap of $2.54 billion, a P/E ratio of -7.33, a P/E/G ratio of 4.55 and a beta of 1.71. 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 (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.51 billion. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. RXO's revenue for the quarter was up 57.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. On average, sell-side analysts predict that RXO, Inc. will post 0.31 earnings per share for the current fiscal 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.