HighVista Strategies LLC Acquires Shares of 46,000 RXO, Inc. (NYSE:RXO)

HighVista Strategies LLC purchased a new stake in RXO, Inc. (NYSE:RXO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,000 shares of the company’s stock, valued at approximately $1,288,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in RXO by 2.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 75,802 shares of the company’s stock worth $1,658,000 after purchasing an additional 1,663 shares during the period. Comerica Bank boosted its holdings in shares of RXO by 219.0% in the first quarter. Comerica Bank now owns 170,377 shares of the company’s stock valued at $3,726,000 after acquiring an additional 116,974 shares in the last quarter. Boston Partners raised its stake in shares of RXO by 150.0% in the 1st quarter. Boston Partners now owns 42,526 shares of the company’s stock worth $930,000 after buying an additional 25,519 shares in the last quarter. SG Americas Securities LLC lifted its holdings in RXO by 1,407.4% in the 2nd quarter. SG Americas Securities LLC now owns 103,993 shares of the company’s stock valued at $2,719,000 after acquiring an additional 97,094 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of RXO by 14.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,095 shares of the company’s stock worth $316,000 after purchasing an additional 1,513 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Price Performance

Shares of NYSE RXO opened at $30.03 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50-day moving average of $28.43 and a 200-day moving average of $26.73. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of -15.17, a PEG ratio of 16.24 and a beta of 1.32. RXO, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $32.82.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts predict that RXO, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Citigroup downgraded shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Tuesday, November 12th. Oppenheimer restated an “outperform” rating and set a $31.00 price target on shares of RXO in a research note on Tuesday, September 17th. The Goldman Sachs Group restated a “neutral” rating and set a $29.00 price objective on shares of RXO in a research report on Monday, November 18th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $31.00 target price on shares of RXO in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.47.

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.