Aristeia Capital L.L.C. Makes New $293,000 Investment in RXO, Inc. (NYSE:RXO)

Aristeia Capital L.L.C. purchased a new stake in RXO, Inc. (NYSE:RXO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,283 shares of the company’s stock, valued at approximately $293,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank boosted its stake in RXO by 41.1% in the 4th quarter. Comerica Bank now owns 211,963 shares of the company’s stock worth $5,053,000 after purchasing an additional 61,765 shares during the period. Northern Trust Corp grew its holdings in shares of RXO by 20.6% during the fourth quarter. Northern Trust Corp now owns 1,562,787 shares of the company’s stock worth $37,257,000 after buying an additional 266,674 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in RXO by 18.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 87,822 shares of the company’s stock valued at $2,094,000 after buying an additional 13,578 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in RXO by 19.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 105,766 shares of the company’s stock valued at $2,522,000 after acquiring an additional 17,424 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in RXO by 16.0% during the 4th quarter. Hsbc Holdings PLC now owns 26,897 shares of the company’s stock worth $648,000 after acquiring an additional 3,719 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Susquehanna cut their price objective on shares of RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a research report on Wednesday, March 26th. Citigroup cut their price target on shares of RXO from $23.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their price objective on RXO from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company dropped their target price on RXO from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Finally, Morgan Stanley decreased their price target on RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, RXO presently has an average rating of “Hold” and a consensus target price of $22.40.

RXO Trading Up 4.5 %

RXO stock opened at $14.70 on Friday. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -6.93, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. The company has a fifty day moving average price of $16.62 and a two-hundred day moving average price of $22.78. RXO, Inc. has a one year low of $12.19 and a one year high of $32.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33.

RXO (NYSE:RXO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. Equities analysts anticipate that RXO, Inc. will post 0.31 EPS for the current 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.