International Assets Investment Management LLC Purchases 6,021 Shares of RXO, Inc. (NYSE:RXO)

International Assets Investment Management LLC increased its holdings in shares of RXO, Inc. (NYSE:RXO) by 2,700.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,244 shares of the company’s stock after acquiring an additional 6,021 shares during the quarter. International Assets Investment Management LLC’s holdings in RXO were worth $175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RXO. MFN Partners Management LP raised its position in shares of RXO by 11.0% during the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock worth $452,679,000 after purchasing an additional 1,722,301 shares during the period. Vanguard Group Inc. raised its holdings in RXO by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock worth $290,750,000 after buying an additional 45,977 shares during the period. Swedbank AB bought a new position in RXO in the first quarter valued at approximately $76,982,000. Douglas Lane & Associates LLC boosted its holdings in shares of RXO by 2.0% in the second quarter. Douglas Lane & Associates LLC now owns 2,698,525 shares of the company’s stock valued at $70,566,000 after buying an additional 52,378 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of RXO by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock valued at $53,153,000 after buying an additional 176,041 shares during the period. 92.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RXO shares. Barclays boosted their price objective on shares of RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Jefferies Financial Group dropped their target price on RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price target on shares of RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Susquehanna cut their price objective on RXO from $20.00 to $16.00 and set a “negative” rating for the company in a research report on Thursday, September 26th. Finally, TD Cowen lifted their target price on shares of RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.23.

RXO Stock Performance

NYSE:RXO opened at $31.90 on Thursday. The company has a market cap of $5.13 billion, a price-to-earnings ratio of -177.21, a PEG ratio of 11.54 and a beta of 1.33. RXO, Inc. has a fifty-two week low of $17.17 and a fifty-two week high of $32.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a fifty day moving average price of $27.74 and a 200-day moving average price of $25.61.

RXO (NYSE:RXO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. RXO’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 earnings per share. As a group, equities analysts anticipate that RXO, Inc. will post 0.16 EPS for the current fiscal year.

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.