Neuberger Berman Group LLC Purchases Shares of 10,828 Rxo Inc $RXO

Neuberger Berman Group LLC acquired a new stake in Rxo Inc (NYSE:RXO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,828 shares of the company’s stock, valued at approximately $170,000.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of RXO during the second quarter worth about $16,949,000. Hsbc Holdings PLC boosted its stake in RXO by 135.7% during the 2nd quarter. Hsbc Holdings PLC now owns 61,777 shares of the company’s stock valued at $984,000 after purchasing an additional 35,569 shares during the last quarter. Capital Fund Management S.A. acquired a new position in RXO during the 2nd quarter valued at about $417,000. Russell Investments Group Ltd. increased its holdings in RXO by 67.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 191,318 shares of the company’s stock worth $3,008,000 after purchasing an additional 76,965 shares in the last quarter. Finally, Inceptionr LLC bought a new stake in RXO during the 2nd quarter worth approximately $248,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

RXO Trading Up 1.6%

NYSE RXO opened at $13.22 on Friday. The business’s fifty day moving average is $15.21 and its 200-day moving average is $15.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -30.74 and a beta of 1.67. Rxo Inc has a one year low of $10.43 and a one year high of $30.40.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $0.05 EPS. RXO’s quarterly revenue was up 34.6% compared to the same quarter last year. Equities research analysts predict that Rxo Inc will post 0.31 EPS for the current year.

Insider Buying and Selling at RXO

In related news, Director Troy A. Cooper bought 8,317 shares of RXO stock in a transaction dated Thursday, November 20th. The stock was purchased at an average cost of $10.61 per share, with a total value of $88,243.37. Following the transaction, the director directly owned 275,416 shares of the company’s stock, valued at approximately $2,922,163.76. The trade was a 3.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Szlosek purchased 20,308 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were bought at an average price of $12.37 per share, with a total value of $251,209.96. Following the purchase, the director owned 36,508 shares in the company, valued at $451,603.96. The trade was a 125.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 40,250 shares of company stock worth $488,875 over the last three months. 2.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RXO has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on RXO from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Wednesday, October 8th. Morgan Stanley upgraded RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 price objective on the stock in a research note on Tuesday, November 11th. Barclays cut their price objective on shares of RXO from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. UBS Group lowered their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Finally, Stifel Nicolaus raised their price target on shares of RXO from $14.00 to $17.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, RXO has a consensus rating of “Hold” and an average price target of $16.69.

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.