11,830 Shares in RXO, Inc. (NYSE:RXO) Purchased by Algert Global LLC

Algert Global LLC purchased a new position in shares of RXO, Inc. (NYSE:RXO) during the second quarter, HoldingsChannel reports. The firm purchased 11,830 shares of the company’s stock, valued at approximately $309,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Motco increased its holdings in shares of RXO by 5,450.0% during the 1st quarter. Motco now owns 2,442 shares of the company’s stock worth $53,000 after acquiring an additional 2,398 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of RXO by 2,235.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after purchasing an additional 3,487 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of RXO in the second quarter valued at about $112,000. PNC Financial Services Group Inc. lifted its stake in shares of RXO by 62.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock worth $121,000 after buying an additional 1,987 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of RXO during the 1st quarter worth about $151,000. Institutional investors own 92.73% of the company’s stock.

RXO Price Performance

Shares of NYSE:RXO opened at $27.62 on Wednesday. The firm has a 50 day moving average of $27.98 and a 200-day moving average of $24.48. RXO, Inc. has a 12 month low of $16.94 and a 12 month high of $32.82. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $3.25 billion, a PE ratio of -308.78, a PEG ratio of 13.28 and a beta of 1.34.

RXO (NYSE:RXO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The business had revenue of $930.00 million during the quarter, compared to the consensus estimate of $934.14 million. During the same period in the previous year, the business earned $0.08 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. On average, equities research analysts predict that RXO, Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RXO. JPMorgan Chase & Co. raised their price objective on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Jefferies Financial Group reduced their price target on RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Tuesday, August 13th. Morgan Stanley upped their price target on shares of RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, TD Cowen raised their price target on shares of RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, RXO presently has an average rating of “Hold” and a consensus target price of $25.67.

About RXO

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.