RXO, Inc. (NYSE:RXO) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its holdings in shares of RXO, Inc. (NYSE:RXO) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,523 shares of the company’s stock after selling 565 shares during the period. Maryland State Retirement & Pension System’s holdings in RXO were worth $989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of RXO in the fourth quarter worth $27,000. Allspring Global Investments Holdings LLC lifted its stake in shares of RXO by 6,329.0% in 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 period. Ramirez Asset Management Inc. bought a new stake in RXO during the third quarter worth approximately $45,000. International Assets Investment Management LLC lifted its position in RXO by 2,008.5% in the fourth quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock worth $121,000 after purchasing an additional 4,941 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in RXO by 65.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,863 shares of the company’s stock valued at $135,000 after purchasing an additional 2,718 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

RXO Trading Up 1.2 %

Shares of RXO stock opened at $20.72 on Friday. RXO, Inc. has a 12 month low of $16.94 and a 12 month high of $24.33. The company has a market cap of $2.44 billion, a PE ratio of -230.22, a price-to-earnings-growth ratio of 7.91 and a beta of 1.24. The company has a quick ratio of 1.17, a current ratio of 1.14 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $20.55 and its two-hundred day moving average is $20.93.

RXO (NYSE:RXO) last announced its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The firm had revenue of $913.00 million for the quarter, compared to the consensus estimate of $929.50 million. During the same quarter last year, the firm posted $0.11 EPS. The business’s quarterly revenue was down 9.6% on a year-over-year basis. Equities analysts predict that RXO, Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Friday, April 19th. Bank of America cut shares of RXO from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $22.00 in a report on Thursday, February 8th. Susquehanna increased their price objective on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. TD Cowen boosted their target price on RXO from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $22.00 price objective on shares of RXO in a research note on Monday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.55.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp acquired 35,985 shares of the stock in a transaction dated Tuesday, April 16th. The shares were acquired at an average price of $20.22 per share, for a total transaction of $727,616.70. Following the completion of the purchase, the insider now owns 15,629,679 shares in the company, valued at approximately $316,032,109.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders acquired 1,127,999 shares of company stock valued at $22,097,846. Insiders own 1.80% of the company’s stock.

RXO 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.