Fred Alger Management LLC Has $14.31 Million Holdings in Rxo Inc $RXO

Fred Alger Management LLC decreased its holdings in Rxo Inc (NYSE:RXO) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 930,143 shares of the company’s stock after selling 74,554 shares during the quarter. Fred Alger Management LLC’s holdings in RXO were worth $14,306,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in RXO by 6.1% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,453 shares of the company’s stock worth $176,000 after purchasing an additional 654 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of RXO by 3.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,428 shares of the company’s stock valued at $345,000 after purchasing an additional 661 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of RXO by 0.6% in the third quarter. New York State Teachers Retirement System now owns 116,604 shares of the company’s stock valued at $1,793,000 after purchasing an additional 700 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of RXO by 27.0% during the third quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock valued at $49,000 after buying an additional 701 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of RXO by 17.1% during the third quarter. Nisa Investment Advisors LLC now owns 5,359 shares of the company’s stock valued at $82,000 after buying an additional 783 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Stock Performance

Shares of RXO stock opened at $11.97 on Tuesday. The business’s fifty day simple moving average is $14.93 and its 200 day simple moving average is $15.00. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25. Rxo Inc has a 12 month low of $10.43 and a 12 month high of $19.65. The firm has a market capitalization of $1.96 billion, a P/E ratio of -20.63, a price-to-earnings-growth ratio of 8.51 and a beta of 1.67.

RXO (NYSE:RXO) last announced its quarterly earnings data on Friday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). RXO had a negative net margin of 1.74% and a negative return on equity of 0.44%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, analysts anticipate that Rxo Inc will post 0.31 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on RXO from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Stephens set a $15.00 price objective on shares of RXO in a report on Monday, February 9th. TD Cowen reiterated a “hold” rating on shares of RXO in a research note on Friday, January 9th. Stifel Nicolaus set a $15.00 target price on shares of RXO in a report on Thursday, February 5th. Finally, UBS Group reissued a “neutral” rating on shares of RXO in a research report on Sunday, February 8th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, RXO currently has a consensus rating of “Hold” and a consensus price target of $16.29.

RXO Company Profile

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.