Wolverine Trading LLC Acquires New Holdings in RXO, Inc. (NYSE:RXO)

Wolverine Trading LLC bought a new position in shares of RXO, Inc. (NYSE:RXO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,459 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of RXO by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after acquiring an additional 510 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in RXO in the second quarter valued at about $112,000. KBC Group NV boosted its stake in shares of RXO by 28.1% during the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock valued at $114,000 after purchasing an additional 890 shares in the last quarter. City Holding Co. grew its holdings in shares of RXO by 57.9% during the third quarter. City Holding Co. now owns 5,241 shares of the company’s stock worth $147,000 after purchasing an additional 1,921 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. increased its stake in shares of RXO by 29.6% in the third quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company’s stock valued at $149,000 after buying an additional 1,212 shares during the period. Institutional investors own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $29.00 price objective on shares of RXO in a report on Monday, November 18th. Citigroup lowered RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Tuesday, November 12th. Wells Fargo & Company restated an “equal weight” rating and set a $31.00 price objective on shares of RXO in a research report on Monday, November 11th. Finally, Benchmark reissued a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $26.47.

RXO Stock Performance

NYSE RXO opened at $27.29 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33. The company has a fifty day moving average price of $28.70 and a 200-day moving average price of $27.32. RXO, Inc. has a 1 year low of $18.75 and a 1 year high of $32.82. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -13.78, a PEG ratio of 15.82 and a beta of 1.32.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same period in the prior year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts predict that RXO, Inc. will post 0.12 EPS 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.