RXO Sees Unusually Large Options Volume (NYSE:RXO)

RXO, Inc. (NYSE:RXO) was the recipient of some unusual options trading activity on Monday. Investors acquired 10,957 put options on the company. This is an increase of 4,050% compared to the typical daily volume of 264 put options.

Hedge Funds Weigh In On RXO

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of RXO during the third quarter worth $28,000. Blue Trust Inc. grew its position in shares of RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after buying an additional 510 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in RXO by 228.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after acquiring an additional 868 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in RXO by 68.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after acquiring an additional 570 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in RXO by 407.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock valued at $43,000 after acquiring an additional 1,445 shares during the period. 92.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RXO has been the topic of a number of research reports. The Goldman Sachs Group cut their target price on shares of RXO from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company reduced their price objective on RXO from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Oppenheimer lowered RXO from an “outperform” rating to a “market perform” rating in a research note on Friday, April 4th. Jefferies Financial Group decreased their price target on RXO from $26.00 to $20.00 and set a “buy” rating for the company in a report on Friday. Finally, Susquehanna dropped their price objective on shares of RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a research note on Wednesday, March 26th. 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.73.

RXO Stock Performance

Shares of RXO stock opened at $14.01 on Tuesday. The firm has a market cap of $2.30 billion, a PE ratio of -6.61, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. RXO has a 1 year low of $12.39 and a 1 year high of $32.82. The firm’s 50-day simple moving average is $18.68 and its 200-day simple moving average is $24.17. 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 (NYSE:RXO) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Equities analysts forecast that RXO 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.