RXO, Inc. (NYSE:RXO) Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC grew its holdings in RXO, Inc. (NYSE:RXO) by 31.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,751,114 shares of the company’s stock after buying an additional 423,822 shares during the quarter. Fred Alger Management LLC’s holdings in RXO were worth $49,031,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. MFN Partners Management LP lifted its stake in shares of RXO by 11.0% in the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock valued at $452,679,000 after purchasing an additional 1,722,301 shares during the last quarter. Douglas Lane & Associates LLC increased its holdings in RXO by 2.0% during the 2nd quarter. Douglas Lane & Associates LLC now owns 2,698,525 shares of the company’s stock worth $70,566,000 after purchasing an additional 52,378 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of RXO by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock valued at $57,915,000 after acquiring an additional 136,886 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of RXO by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock valued at $53,153,000 after acquiring an additional 176,041 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of RXO by 14.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,867,080 shares of the company’s stock valued at $52,278,000 after acquiring an additional 239,000 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Stock Performance

RXO opened at $29.89 on Friday. The firm has a 50-day moving average price of $28.29 and a two-hundred day moving average price of $26.56. RXO, Inc. has a 1-year low of $18.75 and a 1-year high of $32.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33.

RXO (NYSE:RXO) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $956.19 million. During the same period in the previous year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts expect that RXO, Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on RXO shares. JPMorgan Chase & Co. increased their price objective on RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Oppenheimer reissued an “outperform” rating and set a $31.00 price target on shares of RXO in a research report on Tuesday, September 17th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $29.00 target price on shares of RXO in a report on Monday, November 18th. Wells Fargo & Company restated an “equal weight” rating and set a $31.00 price objective on shares of RXO in a research note on Monday, November 11th. Finally, Morgan Stanley boosted their price target on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.47.

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.