SG Americas Securities LLC Buys 97,094 Shares of RXO, Inc. (NYSE:RXO)

SG Americas Securities LLC grew its position in shares of RXO, Inc. (NYSE:RXO - Free Report) by 1,407.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,993 shares of the company's stock after buying an additional 97,094 shares during the quarter. SG Americas Securities LLC owned 0.09% of RXO worth $2,719,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. MFN Partners Management LP raised its holdings in shares of RXO by 19.8% in the 1st quarter. MFN Partners Management LP now owns 15,588,555 shares of the company's stock worth $340,922,000 after purchasing an additional 2,580,330 shares during the period. Vanguard Group Inc. raised its holdings in shares of RXO by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company's stock worth $290,750,000 after purchasing an additional 45,977 shares during the period. Swedbank AB bought a new stake in shares of RXO in the 1st quarter worth approximately $76,982,000. Douglas Lane & Associates LLC raised its holdings in shares of RXO by 2.0% in the 2nd quarter. Douglas Lane & Associates LLC now owns 2,698,525 shares of the company's stock worth $70,566,000 after purchasing an additional 52,378 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of RXO by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company's stock worth $43,489,000 after purchasing an additional 93,885 shares during the period. Institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

RXO has been the subject of a number of recent research reports. UBS Group lifted their price objective on shares of RXO from $22.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of RXO from $25.00 to $26.00 and gave the company an "underweight" rating in a research note on Thursday, August 8th. Morgan Stanley boosted their price target on shares of RXO from $19.00 to $26.00 and gave the company an "equal weight" rating in a research report on Monday. Barclays boosted their price target on shares of RXO from $24.00 to $30.00 and gave the company an "overweight" rating in a research report on Tuesday, July 16th. Finally, Benchmark restated a "hold" rating on shares of RXO in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $25.67.

RXO Trading Up 0.8 %

Shares of NYSE:RXO traded up $0.23 during midday trading on Wednesday, hitting $27.50. 521,699 shares of the stock traded hands, compared to its average volume of 706,063. The stock has a market capitalization of $3.23 billion, a PE ratio of -305.56, a P/E/G ratio of 7.26 and a beta of 1.38. The business's 50 day moving average is $26.46 and its two-hundred day moving average is $22.73. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. RXO, Inc. has a one year low of $16.94 and a one year high of $32.82.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.03. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The company had revenue of $930.00 million during the quarter, compared to the consensus estimate of $934.14 million. During the same period in the prior year, the firm earned $0.08 earnings per share. RXO's revenue was down 3.4% on a year-over-year basis. As a group, research analysts forecast that RXO, Inc. will post 0.14 earnings per share for the current year.

RXO Company 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.