Rxo Inc $RXO Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in shares of Rxo Inc (NYSE:RXO) by 46.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,919 shares of the company’s stock after selling 29,830 shares during the period. State of Alaska Department of Revenue’s holdings in RXO were worth $713,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Maple Rock Capital Partners Inc. purchased a new position in shares of RXO in the 2nd quarter valued at about $71,283,000. Dimensional Fund Advisors LP raised its holdings in RXO by 32.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,048,903 shares of the company’s stock worth $29,949,000 after purchasing an additional 504,955 shares during the period. Emerald Advisers LLC boosted its position in RXO by 434,029.7% during the first quarter. Emerald Advisers LLC now owns 438,471 shares of the company’s stock worth $6,410,000 after purchasing an additional 438,370 shares in the last quarter. Bank of America Corp DE boosted its position in RXO by 128.6% during the first quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock worth $10,586,000 after purchasing an additional 407,285 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in RXO during the first quarter worth approximately $4,034,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. raised RXO from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $22.00 to $30.00 in a report on Tuesday, October 6th. Truist Financial increased their target price on RXO from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. The Goldman Sachs Group lifted their price target on shares of RXO from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Citizens Jmp cut shares of RXO from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 15th. Finally, UBS Group set a $19.00 price target on shares of RXO in a report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.08.

RXO Trading Up 0.5%

Shares of RXO stock opened at $28.93 on Friday. The firm has a market capitalization of $4.77 billion, a PE ratio of -47.42 and a beta of 2.10. Rxo Inc has a twelve month low of $10.43 and a twelve month high of $29.90. The firm’s 50-day moving average price is $23.05 and its 200 day moving average price is $23.27. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.30.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the firm posted $0.04 EPS. RXO’s revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts predict that Rxo Inc will post 0.15 EPS for the current fiscal year.

RXO Profile

RXO, Inc is a transportation and logistics company that connects shippers with motor carriers and other transportation providers. The company primarily operates an asset-light business model, arranging freight transportation rather than owning a large fleet of trucks.

Its services include truckload freight brokerage, managed transportation and last-mile delivery. RXO uses technology and logistics expertise to help businesses source transportation capacity, manage shipments and coordinate deliveries across their supply chains.

RXO serves customers throughout North America, including the United States, Canada and Mexico.