Frontier Capital Management Co. LLC Has $46.59 Million Stake in RXO, Inc. (NYSE:RXO)

Frontier Capital Management Co. LLC boosted its holdings in RXO, Inc. (NYSE:RXO - Free Report) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,954,407 shares of the company's stock after buying an additional 240,426 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 1.22% of RXO worth $46,593,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Deutsche Bank AG lifted its position in RXO by 68.6% in the fourth quarter. Deutsche Bank AG now owns 138,434 shares of the company's stock valued at $3,300,000 after purchasing an additional 56,304 shares during the period. Driehaus Capital Management LLC raised its position in shares of RXO by 23.7% during the 4th quarter. Driehaus Capital Management LLC now owns 1,517,931 shares of the company's stock worth $36,187,000 after purchasing an additional 290,867 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in RXO in the 4th quarter valued at $528,000. Aristeia Capital L.L.C. acquired a new position in RXO in the 4th quarter valued at $293,000. Finally, Comerica Bank lifted its holdings in shares of RXO by 41.1% during the 4th quarter. Comerica Bank now owns 211,963 shares of the company's stock worth $5,053,000 after acquiring an additional 61,765 shares during the period. Hedge funds and other institutional investors own 92.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RXO. Deutsche Bank Aktiengesellschaft began coverage on RXO in a report on Friday, March 7th. They set a "hold" rating and a $19.00 price objective for the company. Jefferies Financial Group decreased their price objective on shares of RXO from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company reduced their price objective on RXO from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. The Goldman Sachs Group cut their target price on shares of RXO from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, UBS Group cut their target price on shares of RXO from $24.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, RXO currently has an average rating of "Hold" and an average price target of $19.93.

RXO Price Performance

Shares of NYSE RXO traded up $0.51 during trading on Tuesday, hitting $16.67. The company had a trading volume of 838,625 shares, compared to its average volume of 1,210,428. The company has a market cap of $2.73 billion, a P/E ratio of -7.86, a PEG ratio of 4.55 and a beta of 1.71. RXO, Inc. has a 52 week low of $12.19 and a 52 week high of $32.82. The business's 50-day moving average is $15.92 and its 200 day moving average is $22.14. 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 (NYSE:RXO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share 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 firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The company's revenue for the quarter was up 57.0% on a year-over-year basis. Equities research analysts predict that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

RXO Company 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.