Driehaus Capital Management LLC Raises Stake in RXO, Inc. (NYSE:RXO)

Driehaus Capital Management LLC lifted its position in RXO, Inc. (NYSE:RXO - Free Report) by 23.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,517,931 shares of the company's stock after buying an additional 290,867 shares during the period. Driehaus Capital Management LLC owned approximately 0.94% of RXO worth $36,187,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RXO. Vanguard Group Inc. lifted its stake in RXO by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock valued at $410,137,000 after acquiring an additional 2,009,937 shares during the period. Norges Bank purchased a new stake in RXO during the 4th quarter worth approximately $28,342,000. Franklin Resources Inc. lifted its stake in shares of RXO by 122.6% in the fourth quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock worth $39,971,000 after buying an additional 923,307 shares in the last quarter. FIL Ltd increased its holdings in shares of RXO by 10.4% in the fourth quarter. FIL Ltd now owns 6,327,889 shares of the company's stock valued at $150,857,000 after purchasing an additional 596,158 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of RXO by 185.5% during the 3rd quarter. Barclays PLC now owns 908,873 shares of the company's stock worth $25,449,000 after acquiring an additional 590,530 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Oppenheimer cut RXO from an "outperform" rating to a "market perform" rating in a research note on Friday, April 4th. Morgan Stanley dropped their price objective on RXO from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus lowered their target price on RXO from $24.00 to $14.00 and set a "hold" rating for the company in a report on Thursday. Citigroup cut their price target on shares of RXO from $23.00 to $15.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group lowered their price objective on shares of RXO from $24.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, RXO presently has an average rating of "Hold" and a consensus price target of $19.93.

RXO Stock Up 12.0%

RXO stock traded up $1.74 during midday trading on Monday, reaching $16.21. 2,806,410 shares of the company were exchanged, compared to its average volume of 1,211,077. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -7.65, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71. 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 1-year low of $12.19 and a 1-year high of $32.82. The stock's 50-day simple moving average is $16.00 and its 200 day simple moving average is $22.22.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.51 billion. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. RXO's revenue was up 57.0% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. On average, equities analysts forecast 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.