BloombergSen Inc. Takes Position in RXO, Inc. (NYSE:RXO)

BloombergSen Inc. acquired a new position in RXO, Inc. (NYSE:RXO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 436,756 shares of the company’s stock, valued at approximately $12,229,000. RXO comprises about 0.7% of BloombergSen Inc.’s investment portfolio, making the stock its 17th biggest position. BloombergSen Inc. owned approximately 0.27% of RXO at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in RXO by 11.3% in the third quarter. Principal Financial Group Inc. now owns 650,222 shares of the company’s stock valued at $18,206,000 after acquiring an additional 66,159 shares during the last quarter. Amalgamated Bank lifted its position in shares of RXO by 12.8% in the 3rd quarter. Amalgamated Bank now owns 40,481 shares of the company’s stock worth $1,133,000 after purchasing an additional 4,609 shares during the period. Quintet Private Bank Europe S.A. boosted its stake in shares of RXO by 29.6% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company’s stock valued at $149,000 after purchasing an additional 1,212 shares during the last quarter. Emerald Advisers LLC increased its position in shares of RXO by 92.3% during the third quarter. Emerald Advisers LLC now owns 852,441 shares of the company’s stock worth $23,868,000 after buying an additional 409,055 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its stake in RXO by 66.7% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 593,663 shares of the company’s stock worth $16,623,000 after buying an additional 237,637 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

RXO Stock Performance

RXO opened at $28.69 on Friday. RXO, Inc. has a 1-year low of $17.29 and a 1-year high of $32.82. The company has a market cap of $4.61 billion, a price-to-earnings ratio of -159.39, a PEG ratio of 11.54 and a beta of 1.33. The company’s fifty day moving average price is $27.81 and its two-hundred day moving average price is $25.68. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64.

RXO (NYSE:RXO) last posted its earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $930.00 million for the quarter, compared to analyst estimates of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 EPS. On average, analysts expect that RXO, Inc. will post 0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on RXO shares. Susquehanna cut their price target on shares of RXO from $20.00 to $16.00 and set a “negative” rating on the stock in a research report on Thursday, September 26th. Barclays upped their target price on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Oppenheimer reiterated an “outperform” rating and issued a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. Benchmark restated a “hold” rating on shares of RXO in a report on Tuesday, October 15th. Finally, TD Cowen lifted 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RXO has an average rating of “Hold” and a consensus target price of $26.23.

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.