357,953 Shares in Rxo Inc $RXO Acquired by 683 Capital Management LLC

683 Capital Management LLC bought a new position in shares of Rxo Inc (NYSE:RXO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 357,953 shares of the company’s stock, valued at approximately $4,525,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Finepoint Capital LP acquired a new stake in RXO in the third quarter valued at approximately $111,764,000. Massachusetts Financial Services Co. MA grew its position in RXO by 20.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,110,413 shares of the company’s stock valued at $14,036,000 after acquiring an additional 190,583 shares in the last quarter. Vanguard Group Inc. grew its position in RXO by 1.4% in the third quarter. Vanguard Group Inc. now owns 17,216,681 shares of the company’s stock valued at $264,793,000 after acquiring an additional 233,434 shares in the last quarter. Picton Mahoney Asset Management grew its position in RXO by 5,711.5% in the third quarter. Picton Mahoney Asset Management now owns 290,577 shares of the company’s stock valued at $4,470,000 after acquiring an additional 285,577 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in RXO by 280.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 138,817 shares of the company’s stock valued at $2,135,000 after acquiring an additional 102,337 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RXO. Susquehanna increased their price objective on shares of RXO from $14.00 to $18.00 and gave the company a “negative” rating in a research report on Friday, May 8th. TD Cowen raised their price target on shares of RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Barclays lifted their price target on shares of RXO from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Citigroup lifted their price target on shares of RXO from $17.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, UBS Group upped their target price on shares of RXO from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and an average price target of $20.08.

RXO Stock Performance

Shares of RXO opened at $24.80 on Thursday. Rxo Inc has a 1 year low of $10.43 and a 1 year high of $29.86. The company has a market cap of $4.09 billion, a price-to-earnings ratio of -40.65, a price-to-earnings-growth ratio of 28.89 and a beta of 2.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a fifty day moving average of $22.01 and a 200-day moving average of $17.10.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Rxo Inc will post 0.06 earnings per share for the current year.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.