Tectonic Advisors LLC Takes $1.07 Million Position in RXO, Inc. (NYSE:RXO)

Tectonic Advisors LLC purchased a new position in shares of RXO, Inc. (NYSE:RXO) during the fourth quarter, HoldingsChannel reports. The firm purchased 44,712 shares of the company’s stock, valued at approximately $1,066,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RXO. Blue Trust Inc. grew its holdings in shares of RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after buying an additional 510 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in RXO during the 3rd quarter valued at about $28,000. Nomura Asset Management Co. Ltd. increased its holdings in RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after purchasing an additional 570 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of RXO by 407.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock worth $43,000 after purchasing an additional 1,445 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of RXO by 40.0% in the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after purchasing an additional 510 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Stock Down 15.0 %

RXO opened at $21.48 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. The stock’s 50 day simple moving average is $25.96 and its 200 day simple moving average is $27.55. RXO, Inc. has a 1 year low of $18.75 and a 1 year high of $32.82.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. As a group, sell-side analysts anticipate that RXO, Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RXO has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on shares of RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group dropped their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Citigroup lowered RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a report on Tuesday, November 12th. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Finally, Barclays dropped their price objective on RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.79.

RXO Company 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.