RXO, Inc. (NYSE:RXO) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of RXO, Inc. (NYSE:RXO - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,885 shares of the company's stock after selling 45,973 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of RXO worth $3,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of RXO during the 4th quarter worth about $1,588,000. Charles Schwab Investment Management Inc. raised its stake in shares of RXO by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company's stock valued at $51,138,000 after acquiring an additional 76,653 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of RXO by 111.5% in the 4th quarter. JPMorgan Chase & Co. now owns 575,286 shares of the company's stock worth $13,715,000 after acquiring an additional 303,224 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of RXO during the 4th quarter worth approximately $2,004,000. Finally, Victory Capital Management Inc. increased its holdings in RXO by 11.6% in the 4th quarter. Victory Capital Management Inc. now owns 849,340 shares of the company's stock valued at $20,248,000 after purchasing an additional 88,110 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

RXO Stock Performance

NYSE:RXO traded down $0.70 during mid-day trading on Monday, reaching $12.54. The stock had a trading volume of 7,166,373 shares, compared to its average volume of 1,123,516. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The business has a 50 day simple moving average of $17.91 and a 200 day simple moving average of $23.68. RXO, Inc. has a twelve month low of $12.19 and a twelve month high of $32.82. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -5.92, a PEG ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. On average, analysts expect that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RXO has been the subject of a number of research reports. Citigroup dropped their price objective on RXO from $23.00 to $15.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Susquehanna reduced their price target on shares of RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a research report on Wednesday, March 26th. Truist Financial assumed coverage on shares of RXO in a report on Thursday, March 13th. They issued a "buy" rating and a $24.00 price objective for the company. Barclays decreased their price target on shares of RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Stifel Nicolaus reduced their price objective on RXO from $27.00 to $24.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $22.73.

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.