Renaissance Technologies LLC Acquires 170,700 Shares of RXO, Inc. (NYSE:RXO)

Renaissance Technologies LLC grew its holdings in shares of RXO, Inc. (NYSE:RXO - Free Report) by 117.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,400 shares of the company's stock after buying an additional 170,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.20% of RXO worth $7,543,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after acquiring an additional 510 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of RXO during the 3rd quarter worth about $28,000. Smartleaf Asset Management LLC raised its holdings in RXO by 228.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after acquiring an additional 868 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in RXO by 407.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock worth $43,000 after acquiring an additional 1,445 shares during the last quarter. Finally, KBC Group NV grew its position in shares of RXO by 41.2% in the fourth quarter. KBC Group NV now owns 5,727 shares of the company's stock valued at $137,000 after purchasing an additional 1,672 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Benchmark reissued a "hold" rating on shares of RXO in a research report on Wednesday, January 15th. Oppenheimer cut RXO from an "outperform" rating to a "market perform" rating in a research note on Friday, April 4th. Susquehanna reduced their price objective on RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a research report on Wednesday, March 26th. Morgan Stanley reduced their price target on RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Finally, Wells Fargo & Company cut their target price on shares of RXO from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.40.

RXO Stock Performance

RXO traded up $0.25 on Thursday, hitting $13.65. The company's stock had a trading volume of 141,368 shares, compared to its average volume of 1,135,461. The firm has a market cap of $2.24 billion, a P/E ratio of -6.43, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. The company's 50 day simple moving average is $17.58 and its 200-day simple moving average is $23.53. RXO, Inc. has a 12 month low of $12.19 and a 12 month high of $32.82. 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 (NYSE:RXO - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. Analysts forecast that RXO, Inc. will post 0.31 EPS 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.