Mirae Asset Global Investments Co. Ltd. Has $1.23 Million Stake in RXO, Inc. (NYSE:RXO)

Mirae Asset Global Investments Co. Ltd. increased its position in RXO, Inc. (NYSE:RXO) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,904 shares of the company’s stock after buying an additional 820 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in RXO were worth $1,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC increased its stake in shares of RXO by 10.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company’s stock worth $59,997,000 after purchasing an additional 248,883 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in RXO by 65.6% in the third quarter. Nisa Investment Advisors LLC now owns 6,863 shares of the company’s stock worth $135,000 after purchasing an additional 2,718 shares in the last quarter. Barclays PLC increased its position in RXO by 299.9% during the third quarter. Barclays PLC now owns 270,766 shares of the company’s stock worth $5,343,000 after buying an additional 203,052 shares during the last quarter. GSA Capital Partners LLP raised its holdings in RXO by 325.2% during the third quarter. GSA Capital Partners LLP now owns 55,077 shares of the company’s stock valued at $1,087,000 after buying an additional 42,123 shares in the last quarter. Finally, Motley Fool Asset Management LLC lifted its position in shares of RXO by 151.5% in the third quarter. Motley Fool Asset Management LLC now owns 403,658 shares of the company’s stock worth $7,964,000 after buying an additional 243,137 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Insider Transactions at RXO

In related news, major shareholder Mfn Partners, Lp purchased 870,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were acquired at an average price of $19.52 per share, with a total value of $16,982,400.00. Following the purchase, the insider now directly owns 16,675,369 shares in the company, valued at $325,503,202.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders purchased 2,578,268 shares of company stock valued at $52,301,046. Corporate insiders own 1.50% of the company’s stock.

RXO Trading Up 0.7 %

Shares of RXO stock opened at $19.50 on Tuesday. RXO, Inc. has a 52-week low of $16.94 and a 52-week high of $24.33. The firm has a market capitalization of $2.29 billion, a PE ratio of 487.50, a price-to-earnings-growth ratio of 6.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The company’s fifty day moving average price is $20.93 and its two-hundred day moving average price is $20.88.

RXO (NYSE:RXO) last posted its earnings results on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $978.00 million for the quarter, compared to analysts’ expectations of $996.33 million. RXO had a net margin of 0.10% and a return on equity of 6.11%. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, analysts expect that RXO, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Benchmark restated a “hold” rating on shares of RXO in a research note on Friday. TD Cowen raised their target price on shares of RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research note on Friday, February 9th. Bank of America downgraded shares of RXO from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $22.00 in a report on Thursday, February 8th. Finally, Susquehanna raised their target price on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a report on Monday, March 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.23.

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.