Granahan Investment Management LLC Invests $2.08 Million in RXO, Inc. (NYSE:RXO)

Granahan Investment Management LLC bought a new stake in RXO, Inc. (NYSE:RXO) during the fourth quarter, HoldingsChannel reports. The fund bought 87,251 shares of the company’s stock, valued at approximately $2,080,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after buying an additional 510 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in RXO in the 3rd quarter worth approximately $28,000. Smartleaf Asset Management LLC grew its stake in shares of RXO by 228.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after purchasing an additional 868 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of RXO by 407.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock valued at $43,000 after purchasing an additional 1,445 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of RXO by 41.2% in the 4th quarter. KBC Group NV now owns 5,727 shares of the company’s stock valued at $137,000 after purchasing an additional 1,672 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Stock Performance

Shares of RXO stock opened at $14.49 on Friday. The business’s 50 day moving average price is $16.00 and its 200 day moving average price is $22.26. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -6.83, a PEG ratio of 4.55 and a beta of 1.71. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. RXO, Inc. has a one year low of $12.19 and a one year high of $32.82.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.51 billion. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. RXO’s revenue for the quarter was up 57.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. On average, research analysts predict that RXO, Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Benchmark restated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft started coverage on RXO in a report on Friday, March 7th. They issued a “hold” rating and a $19.00 price target for the company. The Goldman Sachs Group dropped their price objective on RXO from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays reduced their target price on RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price objective on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, RXO presently has an average rating of “Hold” and a consensus target price of $19.93.

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.