ProShare Advisors LLC Purchases 19,711 Shares of RXO, Inc. (NYSE:RXO)

ProShare Advisors LLC increased its holdings in shares of RXO, Inc. (NYSE:RXO - Free Report) by 69.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,036 shares of the company's stock after purchasing 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 SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after acquiring an additional 510 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in RXO by 228.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after acquiring an additional 868 shares during the last quarter. KBC Group NV lifted its stake in RXO by 41.2% in the fourth 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 stake in RXO in the fourth quarter valued at $267,000. Finally, Xponance Inc. lifted its stake in 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 acquiring an additional 2,631 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

RXO Stock Performance

NYSE:RXO traded up $0.65 during mid-day trading on Tuesday, reaching $15.73. 585,413 shares of the company's stock were exchanged, compared to its average volume of 1,254,755. RXO, Inc. has a one year low of $12.19 and a one year high of $32.82. The firm has a market capitalization of $2.58 billion, a PE ratio of -7.42, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71. The business's fifty day simple moving average is $15.40 and its two-hundred day simple moving average is $21.25. 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 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 positive return on equity of 1.53% and a negative net margin of 6.26%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the business posted ($0.03) earnings per share. RXO's revenue was up 57.0% compared to the same quarter last year. Analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of RXO in a research note on Friday, March 7th. They issued a "hold" rating and a $19.00 price target for the company. Susquehanna cut their price target on shares of RXO from $18.00 to $13.00 and set a "negative" rating for the company in a research note 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 for the company in a research note on Friday, April 11th. Morgan Stanley cut their price target on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Finally, Wells Fargo & Company cut their price target on shares of RXO from $20.00 to $15.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, RXO currently has an average rating of "Hold" and an average target price of $20.00.

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.