Granahan Investment Management LLC Buys New Holdings in RXO, Inc. (NYSE:RXO)

Granahan Investment Management LLC purchased a new position in RXO, Inc. (NYSE:RXO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 87,251 shares of the company's stock, valued at approximately $2,080,000. Granahan Investment Management LLC owned approximately 0.05% of RXO at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after buying an additional 510 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in RXO in the third quarter worth about $28,000. Smartleaf Asset Management LLC grew its holdings in RXO by 228.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock worth $30,000 after purchasing an additional 868 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of RXO by 407.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock valued at $43,000 after purchasing an additional 1,445 shares during the last quarter. Finally, KBC Group NV raised its stake in RXO by 41.2% during the fourth quarter. KBC Group NV now owns 5,727 shares of the company's stock valued at $137,000 after buying an additional 1,672 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RXO has been the subject of several analyst reports. Citigroup reduced their price target on RXO from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Truist Financial reduced their price target on RXO from $24.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Barclays reduced their price target on RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Oppenheimer downgraded RXO from an "outperform" rating to a "market perform" rating in a report on Friday, April 4th. Finally, Stifel Nicolaus reduced their price target on RXO from $24.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $19.93.

RXO Stock Performance

NYSE:RXO traded up $0.43 on Wednesday, hitting $17.05. The stock had a trading volume of 2,341,631 shares, compared to its average volume of 1,225,115. The business's 50-day simple moving average is $15.85 and its two-hundred day simple moving average is $22.10. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. RXO, Inc. has a 52-week low of $12.19 and a 52-week high of $32.82. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -8.04, 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, research 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.