19,825 Shares in RXO, Inc. (NYSE:RXO) Purchased by Tidal Investments LLC

Tidal Investments LLC purchased a new position in RXO, Inc. (NYSE:RXO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,825 shares of the company's stock, valued at approximately $473,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in RXO by 69.6% in the fourth quarter. ProShare Advisors LLC now owns 48,036 shares of the company's stock worth $1,145,000 after purchasing an additional 19,711 shares during the period. Quantinno Capital Management LP grew its stake in RXO by 25.2% in the fourth quarter. Quantinno Capital Management LP now owns 11,725 shares of the company's stock worth $280,000 after purchasing an additional 2,358 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of RXO by 22.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,806 shares of the company's stock worth $2,165,000 after acquiring an additional 16,540 shares during the last quarter. Granahan Investment Management LLC purchased a new stake in shares of RXO in the fourth quarter worth $2,080,000. Finally, Frontier Capital Management Co. LLC grew its stake in shares of RXO by 14.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,954,407 shares of the company's stock worth $46,593,000 after acquiring an additional 240,426 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Stock Performance

Shares of NYSE RXO traded up $0.70 during trading on Tuesday, hitting $15.90. The company had a trading volume of 1,727,242 shares, compared to its average volume of 1,278,667. The stock has a 50 day simple moving average of $14.98 and a 200 day simple moving average of $20.78. 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, Inc. has a 12 month low of $12.19 and a 12 month high of $32.82. The firm has a market capitalization of $2.61 billion, a P/E ratio of -7.50, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings data 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 positive return on equity of 1.53% and a negative net margin of 6.26%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the business earned ($0.03) EPS. The firm's quarterly revenue was up 57.0% compared to the same quarter last year. As a group, analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

RXO has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on RXO from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Truist Financial cut their target price on RXO from $24.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Citigroup reissued a "neutral" rating and issued a $18.00 target price (up from $15.00) on shares of RXO in a research note on Wednesday, May 21st. UBS Group cut their target price on RXO from $24.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, Bank of America increased their price objective on RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Two 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 data from MarketBeat.com, RXO has a consensus 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.