SG Americas Securities LLC Raises Position in Rxo Inc (NYSE:RXO)

SG Americas Securities LLC boosted its stake in Rxo Inc (NYSE:RXO) by 251.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,761 shares of the company’s stock after buying an additional 37,024 shares during the period. SG Americas Securities LLC’s holdings in RXO were worth $989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RXO. Blue Trust Inc. lifted its holdings in 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 period. Smartleaf Asset Management LLC lifted its holdings in RXO by 228.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after buying an additional 868 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in RXO by 52.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company’s stock worth $52,000 after buying an additional 945 shares during the period. Mackenzie Financial Corp lifted its holdings in RXO by 37.2% in the fourth quarter. Mackenzie Financial Corp now owns 9,967 shares of the company’s stock worth $238,000 after buying an additional 2,700 shares during the period. Finally, Rialto Wealth Management LLC purchased a new stake in RXO in the fourth quarter worth about $267,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays lowered their price objective on shares of RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Oppenheimer lowered shares of RXO from an “outperform” rating to a “market perform” rating in a report on Friday, April 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 target price for the company. UBS Group lowered their target price on shares of RXO from $24.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Finally, Truist Financial lowered their target price on shares of RXO from $24.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus price target of $20.00.

RXO Price Performance

Shares of RXO opened at $15.47 on Thursday. The company has a market capitalization of $2.54 billion, a P/E ratio of -7.13, a price-to-earnings-growth ratio of 6.36 and a beta of 1.73. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $14.94 and a 200 day moving average of $19.84. Rxo Inc has a twelve month low of $12.19 and a twelve month high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share 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 the consensus estimate of $1.51 billion. RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. RXO’s revenue was up 57.0% on a year-over-year basis. During the same period last year, the business earned ($0.03) EPS. As a group, equities research analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

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.