Creative Planning Sells 35,335 Shares of Rxo Inc $RXO

Creative Planning lessened its holdings in Rxo Inc (NYSE:RXO) by 54.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 29,361 shares of the company’s stock after selling 35,335 shares during the period. Creative Planning’s holdings in RXO were worth $462,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RXO. Wellington Management Group LLP lifted its holdings in 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 buying an additional 7,306,537 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of RXO during the 1st quarter worth $56,693,000. Nuveen LLC purchased a new stake in shares of RXO during the 1st quarter worth $8,107,000. Fred Alger Management LLC grew its stake in RXO by 21.4% in the first quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock valued at $40,202,000 after purchasing an additional 371,511 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in RXO by 4.1% in the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock worth $58,789,000 after purchasing an additional 148,738 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 price target on the stock in a report on Tuesday, November 11th. Zacks Research cut shares of RXO from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Cowen reaffirmed a “hold” rating on shares of RXO in a report on Friday, August 8th. JPMorgan Chase & Co. upped their price target on RXO from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of RXO in a research report on Monday, November 24th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.69.

RXO Trading Up 1.3%

NYSE RXO opened at $14.43 on Friday. Rxo Inc has a 12-month low of $10.43 and a 12-month high of $29.60. The company has a fifty day simple moving average of $15.05 and a two-hundred day simple moving average of $15.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.37 billion, a P/E ratio of -33.55 and a beta of 1.74.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. RXO’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period last year, the firm earned $0.05 earnings per share. On average, analysts forecast that Rxo Inc will post 0.31 earnings per share for the current year.

Insider Activity

In other news, Director Troy A. Cooper bought 8,317 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were purchased at an average price of $10.61 per share, for a total transaction of $88,243.37. Following the completion of the transaction, the director directly owned 275,416 shares in the company, valued at approximately $2,922,163.76. This represents a 3.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew M. Wilkerson purchased 7,775 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $12.88 per share, for a total transaction of $100,142.00. Following the acquisition, the chief executive officer owned 7,775 shares in the company, valued at $100,142. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 40,250 shares of company stock valued at $488,875. Company insiders own 2.80% of the company’s stock.

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.