Rxo Inc $RXO Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of Rxo Inc (NYSE:RXO) by 135.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,777 shares of the company’s stock after purchasing an additional 35,569 shares during the period. Hsbc Holdings PLC’s holdings in RXO were worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new stake in RXO during the first quarter valued at approximately $30,000. AlphaQuest LLC bought a new position in shares of RXO in the second quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of RXO by 25.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,433 shares of the company’s stock valued at $54,000 after acquiring an additional 688 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of RXO by 34.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,576 shares of the company’s stock valued at $72,000 after acquiring an additional 1,163 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of RXO during the 1st quarter worth $97,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RXO in a report on Monday. Stifel Nicolaus raised their target price on shares of RXO from $14.00 to $17.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Zacks Research raised shares of RXO from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Benchmark restated a “hold” rating on shares of RXO in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of RXO from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.69.

RXO Price Performance

NYSE RXO opened at $14.56 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -33.86 and a beta of 1.74. The company has a 50 day simple moving average of $15.01 and a 200-day simple moving average of $15.67. Rxo Inc has a 52-week low of $10.43 and a 52-week high of $29.60.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the company posted $0.05 EPS. The firm’s quarterly revenue was up 34.6% compared to the same quarter last year. Equities research analysts predict that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at RXO

In other news, Director Troy A. Cooper bought 8,317 shares of the stock in a transaction on Thursday, November 20th. The shares were purchased at an average price of $10.61 per share, for a total transaction of $88,243.37. Following the completion of the purchase, the director directly owned 275,416 shares of the company’s stock, valued at $2,922,163.76. This trade represents a 3.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas A. Szlosek purchased 20,308 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $12.37 per share, with a total value of $251,209.96. Following the completion of the purchase, the director directly owned 36,508 shares in the company, valued at approximately $451,603.96. This represents a 125.36% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 40,250 shares of company stock valued at $488,875. 1.48% of the stock is owned by insiders.

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.