Dynamic Technology Lab Private Ltd Takes $679,000 Position in Rxo Inc $RXO

Dynamic Technology Lab Private Ltd bought a new position in shares of Rxo Inc (NYSE:RXO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,191 shares of the company’s stock, valued at approximately $679,000.

Several other hedge funds have also recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new stake in RXO during the first quarter worth approximately $30,000. AlphaQuest LLC acquired a new position in shares of RXO during the 2nd quarter valued at $29,000. CWM LLC boosted its position in RXO by 234.4% during the 1st quarter. CWM LLC now owns 1,876 shares of the company’s stock worth $36,000 after purchasing an additional 1,315 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in RXO by 25.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,433 shares of the company’s stock valued at $54,000 after purchasing an additional 688 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in RXO by 34.1% in the second quarter. Nisa Investment Advisors LLC now owns 4,576 shares of the company’s stock valued at $72,000 after purchasing an additional 1,163 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Insider Transactions at RXO

In other news, CEO Andrew M. Wilkerson bought 7,775 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $12.88 per share, for a total transaction of $100,142.00. Following the transaction, the chief executive officer owned 7,775 shares in the company, valued at $100,142. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas A. Szlosek purchased 20,308 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $12.37 per share, with a total value 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. The trade was a 125.36% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 31,933 shares of company stock valued at $400,632 over the last quarter. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RXO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RXO in a research report on Monday, November 17th. Stifel Nicolaus increased their price objective on shares of RXO from $14.00 to $17.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Truist Financial dropped their price objective on shares of RXO from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Benchmark restated a “hold” rating on shares of RXO in a research note on Wednesday, October 22nd. Finally, Barclays lowered their price target on shares of RXO from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, RXO has a consensus rating of “Hold” and a consensus price target of $16.69.

RXO Stock Up 9.0%

RXO stock opened at $11.42 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm has a 50 day simple moving average of $15.63 and a 200-day simple moving average of $15.85. The company has a market capitalization of $1.87 billion, a P/E ratio of -26.56 and a beta of 1.67. Rxo Inc has a twelve month low of $10.43 and a twelve month high of $31.11.

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

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.