Intech Investment Management LLC Purchases 44,001 Shares of Rxo Inc $RXO

Key Points

• Intech Investment Management LLC increased its holdings in RXO Inc by 87.1% in the first quarter, acquiring an additional 44,001 shares and owning a total of 94,527 shares worth approximately $1.8 million.
• RXO's stock has been volatile, with a 1-year low of $12.19 and a high of $31.98, currently trading at $17.48.
• The company's latest quarterly earnings report showed earnings per share of $0.04, exceeding expectations and marking a 52.6% increase in revenue year-over-year.

Intech Investment Management LLC grew its holdings in shares of Rxo Inc (NYSE:RXO - Free Report) by 87.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,527 shares of the company's stock after purchasing an additional 44,001 shares during the period. Intech Investment Management LLC owned approximately 0.06% of RXO worth $1,805,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Fred Alger Management LLC boosted its position in shares of RXO by 21.4% in the 1st quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company's stock valued at $40,202,000 after purchasing an additional 371,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of RXO by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company's stock valued at $1,813,000 after buying an additional 4,134 shares during the last quarter. Royal Bank of Canada lifted its holdings in RXO by 14.3% in the 1st quarter. Royal Bank of Canada now owns 23,251 shares of the company's stock worth $444,000 after purchasing an additional 2,902 shares during the last quarter. Gabelli Funds LLC lifted its holdings in RXO by 20.1% in the 1st quarter. Gabelli Funds LLC now owns 11,000 shares of the company's stock worth $210,000 after purchasing an additional 1,843 shares during the last quarter. Finally, Penn Capital Management Company LLC lifted its holdings in RXO by 21.3% in the 1st quarter. Penn Capital Management Company LLC now owns 710,290 shares of the company's stock worth $13,604,000 after purchasing an additional 124,540 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RXO. JPMorgan Chase & Co. lowered their price objective on RXO from $15.00 to $14.00 and set an "underweight" rating on the stock in a research report on Tuesday, July 8th. Morgan Stanley decreased their target price on RXO from $23.00 to $21.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Cowen reaffirmed a "hold" rating on shares of RXO in a report on Friday, August 8th. Wall Street Zen upgraded shares of RXO from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Susquehanna set a $12.00 price target on shares of RXO and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.92.

RXO Trading Down 7.2%

Shares of RXO stock traded down $1.25 during trading hours on Friday, hitting $16.20. The company's stock had a trading volume of 8,241,827 shares, compared to its average volume of 1,932,794. Rxo Inc has a 12 month low of $12.19 and a 12 month high of $31.98. The stock has a 50 day moving average of $16.08 and a 200 day moving average of $16.06. The company has a market capitalization of $2.66 billion, a PE ratio of -7.50, a price-to-earnings-growth ratio of 8.33 and a beta of 1.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company earned $0.03 earnings per share. The company's revenue for the quarter was up 52.6% compared to the same quarter last year. Analysts predict that Rxo Inc will post 0.31 earnings per share for the current year.

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.