Squarepoint Ops LLC Acquires 129,228 Shares of Rxo Inc $RXO

by · The Markets Daily

Squarepoint Ops LLC boosted its holdings in Rxo Inc (NYSE:RXO – Free Report) by 304.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,620 shares of the company’s stock after buying an additional 129,228 shares during the quarter. Squarepoint Ops LLC owned approximately 0.10% of RXO worth $2,698,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of RXO by 374.1% in the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock valued at $176,855,000 after purchasing an additional 7,306,537 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in RXO in the 1st quarter valued at approximately $56,693,000. Orbis Allan Gray Ltd boosted its position in RXO by 3.8% in the second quarter. Orbis Allan Gray Ltd now owns 31,375,221 shares of the company’s stock valued at $493,218,000 after buying an additional 1,142,710 shares in the last quarter. Norges Bank bought a new stake in shares of RXO during the second quarter worth $16,949,000. Finally, Owls Nest Partners IA LLC acquired a new position in shares of RXO during the second quarter worth $9,287,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

Insider Buying and Selling

In other news, Director Thomas A. Szlosek bought 20,308 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $12.37 per share, for a total transaction of $251,209.96. Following the completion of the acquisition, 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. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew M. Wilkerson purchased 7,775 shares of the business’s stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $12.88 per share, for a total transaction of $100,142.00. Following the transaction, the chief executive officer directly owned 7,775 shares of the company’s stock, valued at approximately $100,142. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 40,250 shares of company stock valued at $488,875 over the last quarter. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RXO shares. Truist Financial cut their price objective on RXO from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Barclays cut their price target on RXO from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Morgan Stanley upgraded RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 price target on the stock in a report on Tuesday, November 11th. Susquehanna dropped their price objective on shares of RXO from $11.00 to $10.00 and set a “negative” rating for the company in a report on Friday, November 7th. Finally, UBS Group reduced their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, RXO presently has an average rating of “Hold” and an average price target of $16.62.

Check Out Our Latest Research Report on RXO

RXO Price Performance

RXO stock opened at $13.89 on Thursday. The stock’s 50 day moving average is $14.80 and its 200 day moving average is $15.64. Rxo Inc has a one year low of $10.43 and a one year high of $27.18. The firm has a market cap of $2.28 billion, a P/E ratio of -32.31 and a beta of 1.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.32.

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

RXO Profile

(Free Report)

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.

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