Rxo Inc $RXO Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly increased its stake in Rxo Inc by 374.1% in Q1, owning about 5.65% of the company with a value of approximately $176.9 million.
• Several institutional investors have also increased their holdings in RXO, with 92.73% of the stock now owned by hedge funds and institutional investors.
• Research analysts have mixed views on RXO, with a consensus rating of "Hold" and an average target price of $17.93 following various price adjustments made by analysts.

Wellington Management Group LLP raised its holdings in Rxo Inc (NYSE:RXO - Free Report) by 374.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,259,421 shares of the company's stock after acquiring an additional 7,306,537 shares during the quarter. Wellington Management Group LLP owned 5.65% of RXO worth $176,855,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in RXO. Principal Financial Group Inc. increased its holdings in shares of RXO by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 707,430 shares of the company's stock valued at $13,512,000 after purchasing an additional 23,160 shares in the last quarter. New York State Teachers Retirement System grew its position in RXO by 1.8% during the first quarter. New York State Teachers Retirement System now owns 115,904 shares of the company's stock worth $2,214,000 after buying an additional 2,000 shares during the period. GAMMA Investing LLC increased its holdings in RXO by 1,728.8% in the first quarter. GAMMA Investing LLC now owns 36,997 shares of the company's stock valued at $707,000 after buying an additional 34,974 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of RXO by 251.2% during the 1st quarter. SG Americas Securities LLC now owns 51,761 shares of the company's stock valued at $989,000 after acquiring an additional 37,024 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of RXO during the 4th quarter worth approximately $3,738,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Price Performance

Shares of NYSE:RXO traded up $2.2030 on Friday, hitting $16.9030. The company had a trading volume of 4,515,184 shares, compared to its average volume of 1,904,723. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.77 billion, a PE ratio of -7.83, a PEG ratio of 8.07 and a beta of 1.68. Rxo Inc has a 52-week low of $12.19 and a 52-week high of $31.98. The business has a 50 day moving average of $15.93 and a 200 day moving average of $16.60.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The firm's revenue for the quarter was up 52.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. As a group, equities analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RXO shares. Morgan Stanley dropped their price objective on RXO from $23.00 to $21.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Stifel Nicolaus dropped their price target on RXO from $24.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. UBS Group reaffirmed a "neutral" rating and set a $15.00 price target (up previously from $14.00) on shares of RXO in a research note on Friday, August 8th. Bank of America increased their price objective on shares of RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Barclays dropped their target price on shares of RXO from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, RXO currently has an average rating of "Hold" and a consensus target price of $17.93.

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.