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

Renaissance Technologies LLC increased its stake in shares of RXO, Inc. (NYSE:RXO - Free Report) by 117.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,400 shares of the company's stock after acquiring an additional 170,700 shares during the quarter. Renaissance Technologies LLC owned about 0.20% of RXO worth $7,543,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings in shares of RXO by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company's stock valued at $783,000 after acquiring an additional 500 shares during the period. Blue Trust Inc. raised its holdings in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after buying an additional 510 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of RXO by 1.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company's stock worth $712,000 after buying an additional 518 shares during the period. Mutual of America Capital Management LLC grew its holdings in shares of RXO by 2.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company's stock worth $505,000 after buying an additional 551 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in shares of RXO by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 47,110 shares of the company's stock worth $1,123,000 after buying an additional 747 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

RXO Price Performance

NYSE RXO traded up $0.73 during mid-day trading on Wednesday, hitting $13.51. The stock had a trading volume of 1,152,983 shares, compared to its average volume of 1,135,863. The company has a 50 day simple moving average of $17.74 and a 200 day simple moving average of $23.60. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -6.36, a P/E/G ratio of 4.55 and a beta of 1.60. RXO, Inc. has a 52-week low of $12.19 and a 52-week high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO - Get Free Report) last announced 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 positive return on equity of 1.53% and a negative net margin of 6.26%. Equities analysts forecast that RXO, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RXO. Barclays decreased their price objective on RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their price target on RXO from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Oppenheimer cut shares of RXO from an "outperform" rating to a "market perform" rating in a research note on Friday, April 4th. Truist Financial assumed coverage on shares of RXO in a research report on Thursday, March 13th. They set a "buy" rating and a $24.00 price objective for the company. Finally, Citigroup lowered their target price on shares of RXO from $23.00 to $15.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. 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 company. Based on data from MarketBeat.com, RXO has a consensus rating of "Hold" and a consensus target price of $22.73.

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.