MBL Wealth LLC Makes New Investment in Rxo Inc $RXO

MBL Wealth LLC acquired a new position in Rxo Inc (NYSE:RXO) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $157,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RXO. Wellington Management Group LLP grew its stake in RXO by 374.1% during the first quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock worth $176,855,000 after purchasing an additional 7,306,537 shares during the period. Douglas Lane & Associates LLC boosted its holdings in shares of RXO by 4.1% during the 2nd quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock worth $58,789,000 after buying an additional 148,738 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of RXO during the 1st quarter worth approximately $56,693,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of RXO by 15.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company’s stock valued at $52,155,000 after acquiring an additional 355,255 shares in the last quarter. Finally, Fred Alger Management LLC increased its stake in shares of RXO by 21.4% in the 1st quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock valued at $40,202,000 after acquiring an additional 371,511 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RXO has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of RXO in a research note on Saturday, September 27th. Morgan Stanley cut their price objective 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. Barclays decreased their target price on RXO from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, August 12th. JPMorgan Chase & Co. cut their price target on RXO from $15.00 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, July 8th. Finally, Susquehanna set a $12.00 price objective on RXO and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, RXO has a consensus rating of “Hold” and a consensus price target of $17.08.

RXO Trading Up 4.2%

RXO opened at $16.64 on Monday. Rxo Inc has a fifty-two week low of $12.19 and a fifty-two week high of $31.98. The firm has a market capitalization of $2.73 billion, a PE ratio of -7.70, a P/E/G ratio of 7.70 and a beta of 1.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. The company’s 50-day moving average is $15.89 and its 200 day moving average is $15.79.

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

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.