5 Stocks Hedge Funds Are Buying

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In this article, we will look at the 5 stocks hedge funds are buying. If you want to see growth stocks that hedge funds are dumping, you can go to Hedge Funds Are Fleeing These 10 Growth Stocks.

5. RXO, Inc. (NYSE:RXO)

Number of Hedge Fund Holders: 27

Number of Hedge Funds That Bought: 27

RXO, Inc. (NYSE:RXO) is an emerging American trucking company. The company provides freight forwarding services, brokered services for managed transportation, and last mile delivery services. RXO, Inc. (NYSE:RXO) was founded in 2022 and is headquartered in Charlotte, North Carolina. As of March 10, the company is worth $2.35 billion on the open market.

On February 7, RXO, Inc. (NYSE:RXO) posted earnings for the fourth quarter of fiscal 2022. The company reported an EPS of $0.28 and beat EPS estimates by $0.05. The company’s revenue for the quarter amounted to $1.12 billion.

In the fourth quarter of 2022, 27 hedge funds initiated positions in RXO, Inc. (NYSE:RXO) and collectively invested $621.9 million in the company. RXO, Inc. (NYSE:RXO) is placed fifth among the top stocks hedge funds are buying right now.

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