AQR Capital Management LLC Acquires Shares of 8,963 RXO, Inc. (NYSE:RXO)

AQR Capital Management LLC acquired a new stake in shares of RXO, Inc. (NYSE:RXO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,963 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. MFN Partners Management LP grew its holdings in shares of RXO by 11.0% during the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock valued at $452,679,000 after purchasing an additional 1,722,301 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of RXO by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock valued at $290,750,000 after purchasing an additional 45,977 shares during the last quarter. Swedbank AB bought a new position in shares of RXO during the first quarter valued at approximately $76,982,000. Douglas Lane & Associates LLC grew its holdings in shares of RXO by 2.0% during the second quarter. Douglas Lane & Associates LLC now owns 2,698,525 shares of the company’s stock valued at $70,566,000 after purchasing an additional 52,378 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of RXO by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock valued at $53,153,000 after purchasing an additional 176,041 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Ratings Changes

RXO has been the subject of several recent research reports. TD Cowen upped their target price on RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group lowered their target price on RXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Morgan Stanley increased their price objective on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Citigroup assumed coverage on RXO in a report on Wednesday, October 9th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Barclays increased their price objective on RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, RXO currently has an average rating of “Hold” and a consensus price target of $26.23.

RXO Stock Down 1.1 %

RXO opened at $29.27 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. RXO, Inc. has a 1-year low of $16.94 and a 1-year high of $32.82. The business has a 50 day moving average price of $27.78 and a two-hundred day moving average price of $24.86.

RXO (NYSE:RXO) last released its earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The firm had revenue of $930.00 million during the quarter, compared to the consensus estimate of $934.14 million. During the same period in the prior year, the firm posted $0.08 earnings per share. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. Research analysts anticipate that RXO, Inc. will post 0.15 earnings per share for the current fiscal year.

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.