RXO, Inc. (NYSE:RXO) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in shares of RXO, Inc. (NYSE:RXO - Free Report) by 1,772.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 761,230 shares of the company's stock after buying an additional 720,574 shares during the quarter. Victory Capital Management Inc. owned about 0.47% of RXO worth $21,314,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Swedbank AB acquired a new stake in shares of RXO during the first quarter valued at $76,982,000. MFN Partners Management LP boosted its stake in shares of RXO by 11.0% during the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company's stock worth $452,679,000 after purchasing an additional 1,722,301 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of RXO by 1,459.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company's stock worth $42,574,000 after buying an additional 1,523,650 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of RXO in the second quarter valued at approximately $19,965,000. Finally, BloombergSen Inc. purchased a new position in shares of RXO during the third quarter valued at approximately $12,229,000. Hedge funds and other institutional investors own 92.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Benchmark reissued a "hold" rating on shares of RXO in a research note on Tuesday, October 15th. Oppenheimer reaffirmed an "outperform" rating and set a $31.00 price objective on shares of RXO in a research note on Tuesday, September 17th. TD Cowen raised their target price on shares of RXO from $23.00 to $28.00 and gave the stock a "hold" rating in a research report on Thursday, August 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $29.00 price target on shares of RXO in a research report on Monday. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $31.00 price target on shares of RXO in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $26.47.

RXO Stock Up 1.1 %

Shares of NYSE RXO traded up $0.30 on Tuesday, hitting $27.42. The company had a trading volume of 541,464 shares, compared to its average volume of 859,195. The firm has a market capitalization of $4.41 billion, a P/E ratio of -13.70, a PEG ratio of 14.68 and a beta of 1.33. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. RXO, Inc. has a 12-month low of $18.75 and a 12-month high of $32.82. The business has a 50 day moving average of $27.85 and a two-hundred day moving average of $26.19.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $956.19 million. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. RXO's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 EPS. As a group, equities research analysts forecast that RXO, Inc. will post 0.12 earnings per share for the current fiscal year.

About RXO

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.