Renaissance Technologies LLC Grows Stock Position in RXO, Inc. (NYSE:RXO)

Renaissance Technologies LLC boosted its position in shares of RXO, Inc. (NYSE:RXO) by 117.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 316,400 shares of the company’s stock after buying an additional 170,700 shares during the quarter. Renaissance Technologies LLC’s holdings in RXO were worth $7,543,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of RXO in the 4th quarter worth about $1,588,000. Charles Schwab Investment Management Inc. boosted its position in shares of RXO by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company’s stock valued at $51,138,000 after buying an additional 76,653 shares during the period. JPMorgan Chase & Co. boosted its position in shares of RXO by 111.5% during the fourth quarter. JPMorgan Chase & Co. now owns 575,286 shares of the company’s stock valued at $13,715,000 after buying an additional 303,224 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of RXO during the fourth quarter valued at approximately $2,004,000. Finally, Victory Capital Management Inc. lifted its stake in shares of RXO by 11.6% during the 4th quarter. Victory Capital Management Inc. now owns 849,340 shares of the company’s stock worth $20,248,000 after acquiring an additional 88,110 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on RXO. Citigroup cut their price objective on RXO from $23.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group reduced their price target on shares of RXO from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Morgan Stanley decreased their price objective on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on RXO in a report on Friday, March 7th. They issued a “hold” rating and a $19.00 price target for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, RXO currently has an average rating of “Hold” and an average price target of $22.73.

RXO Trading Up 2.3 %

RXO opened at $13.21 on Friday. RXO, Inc. has a 12 month low of $12.39 and a 12 month high of $32.82. The stock has a fifty day moving average price of $18.05 and a 200-day moving average price of $23.83. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -6.23, a PEG ratio of 4.55 and a beta of 1.60. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO) last released 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 negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, equities research analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current fiscal 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.