Sandia Investment Management LP Decreases Stock Holdings in RXO, Inc. (NYSE:RXO)

Sandia Investment Management LP cut its holdings in shares of RXO, Inc. (NYSE:RXO) by 45.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the company’s stock after selling 5,000 shares during the quarter. Sandia Investment Management LP’s holdings in RXO were worth $143,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its holdings in RXO by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock valued at $783,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. grew its position in RXO by 79.7% in the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after acquiring an additional 510 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in RXO by 1.8% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock valued at $712,000 after acquiring an additional 518 shares in the last quarter. Mutual of America Capital Management LLC grew its position in RXO by 2.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock valued at $505,000 after acquiring an additional 551 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its position in shares of RXO by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 47,110 shares of the company’s stock worth $1,123,000 after buying an additional 747 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Price Performance

Shares of NYSE RXO opened at $17.26 on Friday. The stock has a market cap of $2.83 billion, a PE ratio of -8.14, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71. RXO, Inc. has a fifty-two week low of $12.19 and a fifty-two week high of $32.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The stock has a fifty day moving average of $15.74 and a 200-day moving average of $21.91.

RXO (NYSE:RXO) last issued its 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 company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.51 billion. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The company’s revenue was up 57.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Equities research analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

RXO has been the subject of a number of research analyst reports. UBS Group lowered their price target on RXO from $24.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group decreased their price target on RXO from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Bank of America lifted their price objective on RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday. Oppenheimer lowered RXO from an “outperform” rating to a “market perform” rating in a research report on Friday, April 4th. Finally, Susquehanna dropped their price objective on RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.80.

About RXO

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.