PDT Partners LLC Sells 53,164 Shares of RXO, Inc. (NYSE:RXO)

PDT Partners LLC cut its holdings in shares of RXO, Inc. (NYSE:RXO) by 52.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,109 shares of the company’s stock after selling 53,164 shares during the quarter. PDT Partners LLC’s holdings in RXO were worth $1,375,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in RXO by 40.0% in the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after purchasing an additional 510 shares in the last quarter. KBC Group NV increased its holdings in RXO by 28.1% in the 3rd quarter. KBC Group NV now owns 4,055 shares of the company’s stock valued at $114,000 after buying an additional 890 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of RXO in the 2nd quarter valued at approximately $112,000. City Holding Co. lifted its holdings in shares of RXO by 57.9% during the 3rd quarter. City Holding Co. now owns 5,241 shares of the company’s stock worth $147,000 after acquiring an additional 1,921 shares during the period. Finally, Quintet Private Bank Europe S.A. boosted its position in shares of RXO by 29.6% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company’s stock worth $149,000 after acquiring an additional 1,212 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RXO has been the subject of several recent analyst reports. TD Cowen upped their target price on RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Susquehanna lowered their target price on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research note on Tuesday, November 12th. Benchmark restated a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. UBS Group upped their price objective on shares of RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group cut their target price on shares of RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. 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. Based on data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and an average target price of $26.47.

RXO Stock Performance

Shares of RXO stock opened at $30.15 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. RXO, Inc. has a one year low of $18.75 and a one year high of $32.82. The business’s 50 day simple moving average is $28.43 and its 200 day simple moving average is $26.69. The stock has a market capitalization of $4.85 billion, a PE ratio of -15.23, a PEG ratio of 16.24 and a beta of 1.33.

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