State of Alaska Department of Revenue Lowers Position in RXO, Inc. (NYSE:RXO)

State of Alaska Department of Revenue lessened its holdings in shares of RXO, Inc. (NYSE:RXOFree Report) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,742 shares of the company’s stock after selling 887 shares during the quarter. State of Alaska Department of Revenue owned about 0.18% of RXO worth $4,808,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bessemer Group Inc. bought a new stake in RXO during the fourth quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of RXO by 6,329.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after acquiring an additional 1,962 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of RXO during the 4th quarter worth $39,000. Ramirez Asset Management Inc. purchased a new position in RXO in the third quarter worth $45,000. Finally, Resources Management Corp CT ADV increased its stake in RXO by 7,985.7% in the second quarter. Resources Management Corp CT ADV now owns 2,830 shares of the company’s stock valued at $64,000 after acquiring an additional 2,795 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Insider Buying and Selling at RXO

In other RXO news, major shareholder Mfn Partners, Lp acquired 919,720 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were purchased at an average cost of $21.04 per share, for a total transaction of $19,350,908.80. Following the transaction, the insider now owns 14,675,369 shares in the company, valued at $308,769,763.76. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. TD Cowen lifted their price target on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, February 9th. Stifel Nicolaus upped their target price on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Susquehanna increased their price target on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. Oppenheimer lowered their price objective on shares of RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 13th. Finally, Vertical Research lowered shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, RXO currently has an average rating of “Hold” and a consensus target price of $20.23.

View Our Latest Stock Report on RXO

RXO Trading Down 1.1 %

Shares of RXO opened at $21.63 on Tuesday. The stock has a market capitalization of $2.53 billion, a P/E ratio of 540.89, a PEG ratio of 7.65 and a beta of 1.08. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $24.33. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $21.16 and a two-hundred day simple moving average of $20.69.

RXO (NYSE:RXOGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $978.00 million during the quarter, compared to the consensus estimate of $996.33 million. RXO had a net margin of 0.10% and a return on equity of 6.11%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, research analysts anticipate that RXO, Inc. will post 0.22 EPS for the current year.

About RXO

(Free Report)

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.

See Also

Institutional Ownership by Quarter for RXO (NYSE:RXO)

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