SG Americas Securities LLC Grows Stock Position in Rxo Inc (NYSE:RXO)

SG Americas Securities LLC boosted its holdings in Rxo Inc (NYSE:RXO - Free Report) by 251.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,761 shares of the company's stock after buying an additional 37,024 shares during the quarter. SG Americas Securities LLC's holdings in RXO were worth $989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of RXO during the 4th quarter valued at approximately $1,588,000. Charles Schwab Investment Management Inc. boosted its position in RXO by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company's stock valued at $51,138,000 after buying an additional 76,653 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of RXO by 111.5% during the fourth 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. grew its stake in shares of RXO by 11.6% during the fourth quarter. Victory Capital Management Inc. now owns 849,340 shares of the company's stock worth $20,248,000 after buying an additional 88,110 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of RXO by 7.4% during the fourth quarter. Bank of New York Mellon Corp now owns 939,846 shares of the company's stock worth $22,406,000 after buying an additional 64,522 shares in the last quarter. Institutional investors own 92.73% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RXO. Oppenheimer lowered RXO from an "outperform" rating to a "market perform" rating in a research note on Friday, April 4th. Barclays dropped their price objective on shares of RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Stifel Nicolaus reduced their target price on shares of RXO from $24.00 to $14.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of RXO in a research report on Friday, March 7th. They issued a "hold" rating and a $19.00 price target for the company. Finally, Wells Fargo & Company dropped 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 equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $20.00.

RXO Stock Down 1.8%

Shares of NYSE RXO traded down $0.27 during mid-day trading on Friday, reaching $15.19. 2,434,359 shares of the company's stock traded hands, compared to its average volume of 1,322,702. 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 business has a 50-day simple moving average of $15.00 and a 200 day simple moving average of $19.58. The stock has a market cap of $2.49 billion, a P/E ratio of -7.00, a PEG ratio of 6.39 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 released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The company had revenue of $1.43 billion for 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%. RXO's revenue for the quarter was up 57.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS. On average, 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.