RXO, Inc. (NYSE:RXO) Stock Holdings Lessened by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in RXO, Inc. (NYSE:RXO - Free Report) by 20.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 471,284 shares of the company's stock after selling 118,022 shares during the period. Bank of America Corp DE owned approximately 0.29% of RXO worth $11,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in shares of 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 buying an additional 510 shares during the period. Smartleaf Asset Management LLC grew its position 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 in the last quarter. KBC Group NV raised its stake in shares of RXO by 41.2% during the fourth quarter. KBC Group NV now owns 5,727 shares of the company's stock valued at $137,000 after purchasing an additional 1,672 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of RXO during the fourth quarter worth $267,000. Finally, Xponance Inc. boosted its stake 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 during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RXO shares. Morgan Stanley dropped their price target on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Bank of America lifted their target price on RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Jefferies Financial Group reduced their price target on RXO from $26.00 to $20.00 and set a "buy" rating for the company in a report on Friday, April 11th. UBS Group lowered their price objective on RXO from $24.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Susquehanna cut their target price on RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a research report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $20.00.

RXO Stock Performance

Shares of RXO stock traded up $0.25 during trading hours on Thursday, reaching $15.75. The company's stock had a trading volume of 1,598,631 shares, compared to its average volume of 1,263,122. RXO, Inc. has a one year low of $12.19 and a one year high of $32.82. The company's 50 day simple moving average is $15.20 and its 200 day simple moving average is $21.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The stock has a market cap of $2.58 billion, a P/E 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 earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The firm's revenue was up 57.0% compared to the same quarter last year. As a group, analysts expect that RXO, Inc. will post 0.31 EPS 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.