Seven Grand Managers LLC Acquires New Shares in RXO, Inc. (NYSE:RXO)

Seven Grand Managers LLC purchased a new position in RXO, Inc. (NYSE:RXO - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 150,000 shares of the company's stock, valued at approximately $4,200,000. Seven Grand Managers LLC owned 0.13% of RXO at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RXO. Swedbank AB purchased a new position in shares of RXO in the first quarter worth $76,982,000. MFN Partners Management LP grew its holdings in 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 acquiring an additional 2,580,330 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of RXO by 1,459.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company's stock valued at $42,574,000 after acquiring an additional 1,523,650 shares during the period. Motley Fool Asset Management LLC raised its stake in shares of RXO by 287.9% during the first quarter. Motley Fool Asset Management LLC now owns 1,582,324 shares of the company's stock valued at $34,605,000 after acquiring an additional 1,174,361 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of RXO during the second quarter worth about $19,965,000. Institutional investors own 92.73% of the company's stock.

RXO Stock Performance

RXO traded down $0.33 during midday trading on Thursday, reaching $29.27. The company's stock had a trading volume of 811,258 shares, compared to its average volume of 1,437,417. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $32.82. The stock's 50-day moving average is $27.78 and its 200-day moving average is $24.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting analysts' consensus estimates of $0.03. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The firm had revenue of $930.00 million for the quarter, compared to analysts' expectations of $934.14 million. During the same period in the previous year, the firm posted $0.08 EPS. The business's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, equities research analysts expect that RXO, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RXO has been the topic of a number of research analyst reports. Citigroup assumed coverage on RXO in a report on Wednesday, October 9th. They set a "buy" rating and a $33.00 price target on the stock. Oppenheimer reissued an "outperform" rating and set a $31.00 target price on shares of RXO in a research note on Tuesday, September 17th. Benchmark reaffirmed a "hold" rating on shares of RXO in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of RXO from $19.00 to $26.00 and gave the company an "equal weight" rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of RXO from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $26.23.

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.