GAMMA Investing LLC Grows Stake in Rxo Inc $RXO

GAMMA Investing LLC grew its position in Rxo Inc (NYSE:RXO) by 165.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,135 shares of the company’s stock after purchasing an additional 3,198 shares during the quarter. GAMMA Investing LLC’s holdings in RXO were worth $81,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in RXO by 374.1% during the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock worth $176,855,000 after buying an additional 7,306,537 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in shares of RXO by 4.1% during the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock worth $58,789,000 after acquiring an additional 148,738 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of RXO during the first quarter worth about $56,693,000. Vaughan Nelson Investment Management L.P. grew its position in RXO by 15.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company’s stock worth $52,155,000 after purchasing an additional 355,255 shares during the last quarter. Finally, Fred Alger Management LLC grew its position in RXO by 21.4% during the 1st quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock worth $40,202,000 after purchasing an additional 371,511 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Stock Performance

Shares of RXO stock opened at $15.98 on Friday. The company has a market capitalization of $2.62 billion, a P/E ratio of -7.40, a P/E/G ratio of 7.08 and a beta of 1.65. The business’s 50 day moving average is $15.90 and its two-hundred day moving average is $15.84. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. Rxo Inc has a 12-month low of $12.19 and a 12-month high of $31.98.

RXO (NYSE:RXO) last announced its earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm posted $0.03 EPS. The business’s revenue was up 52.6% on a year-over-year basis. Analysts expect that Rxo Inc will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of RXO from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, July 7th. Susquehanna set a $12.00 price target on RXO and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Cowen reiterated a “hold” rating on shares of RXO in a research note on Friday, August 8th. JPMorgan Chase & Co. dropped their price target on RXO from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $15.00 target price (up previously from $14.00) on shares of RXO in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.92.

RXO 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.