Emerald Mutual Fund Advisers Trust Lowers Position in Rxo Inc $RXO

Emerald Mutual Fund Advisers Trust lessened its holdings in Rxo Inc (NYSE:RXO) by 13.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 427,129 shares of the company’s stock after selling 68,055 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in RXO were worth $6,714,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RXO. Wellington Management Group LLP raised its position in RXO by 374.1% during the first quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock valued at $176,855,000 after purchasing an additional 7,306,537 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in RXO during the first quarter valued at about $56,693,000. Nuveen LLC purchased a new stake in RXO during the first quarter valued at about $8,107,000. Fred Alger Management LLC raised its position in RXO by 21.4% during 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 in the last quarter. Finally, Douglas Lane & Associates LLC raised its position in RXO by 4.1% during the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock valued at $58,789,000 after purchasing an additional 148,738 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Stock Down 0.3%

RXO opened at $17.39 on Thursday. The company has a market cap of $2.85 billion, a P/E ratio of -8.05, a P/E/G ratio of 10.98 and a beta of 1.65. The business’s 50-day moving average price is $16.69 and its 200-day moving average price is $15.89. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. Rxo Inc has a 12 month low of $12.19 and a 12 month high of $31.98.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The company’s quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, equities analysts expect that Rxo Inc will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RXO. Benchmark restated a “hold” rating on shares of RXO in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price target on RXO from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Wednesday, October 8th. Truist Financial set a $22.00 price target on RXO in a research report on Tuesday, October 14th. Cowen restated a “hold” rating on shares of RXO in a research report on Friday, August 8th. Finally, The Goldman Sachs Group decreased their price objective on RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Three equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.46.

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.