Rxo Inc $RXO Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its position in Rxo Inc (NYSE:RXO) by 50.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,481 shares of the company’s stock after selling 23,055 shares during the period. Oppenheimer Asset Management Inc.’s holdings in RXO were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of RXO by 374.1% during the first quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock worth $176,855,000 after acquiring an additional 7,306,537 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in shares of RXO by 4.1% during the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock worth $58,789,000 after acquiring an additional 148,738 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of RXO during the first quarter worth $56,693,000. Fred Alger Management LLC lifted its stake in shares of RXO by 21.4% during the first quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock worth $40,202,000 after buying an additional 371,511 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of RXO by 15.7% during the first quarter. Victory Capital Management Inc. now owns 982,789 shares of the company’s stock worth $18,771,000 after buying an additional 133,449 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Cowen reiterated a “hold” rating on shares of RXO in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RXO in a research note on Wednesday, October 8th. Morgan Stanley lowered their price objective on shares of RXO from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Wednesday, October 22nd. Finally, Wall Street Zen upgraded shares of RXO from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, RXO currently has an average rating of “Hold” and a consensus target price of $17.46.

RXO Trading Up 2.6%

Shares of RXO stock opened at $17.73 on Monday. Rxo Inc has a 1 year low of $12.19 and a 1 year high of $31.98. The stock has a market cap of $2.91 billion, a PE ratio of -8.21, a price-to-earnings-growth ratio of 11.16 and a beta of 1.66. The firm has a fifty day moving average price of $16.76 and a 200 day moving average price of $15.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the company posted $0.03 earnings per share. RXO’s revenue for the quarter was up 52.6% on a year-over-year basis. Equities research analysts predict that Rxo Inc will post 0.31 earnings per share for the current 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.