Maple Rock Capital Partners Inc. Acquires New Shares in Rxo Inc $RXO

Maple Rock Capital Partners Inc. acquired a new position in Rxo Inc (NYSE:RXO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,583,655 shares of the company’s stock, valued at approximately $71,283,000. RXO makes up approximately 1.4% of Maple Rock Capital Partners Inc.’s holdings, making the stock its 22nd biggest position. Maple Rock Capital Partners Inc. owned about 1.57% of RXO at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RXO. Royal Bank of Canada boosted its holdings in shares of RXO by 14.3% during the 1st quarter. Royal Bank of Canada now owns 23,251 shares of the company’s stock valued at $444,000 after acquiring an additional 2,902 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of RXO by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company’s stock valued at $1,813,000 after purchasing an additional 4,134 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of RXO during the first quarter valued at approximately $30,000. Strs Ohio bought a new position in RXO during the first quarter valued at approximately $97,000. Finally, Quantbot Technologies LP purchased a new stake in RXO in the second quarter worth approximately $245,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RXO shares. Stephens upgraded shares of RXO to a “hold” rating in a research note on Wednesday, July 8th. Truist Financial cut their price objective on RXO from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 7th. Susquehanna upped their price objective on RXO from $18.00 to $20.00 and gave the company a “negative” rating in a research report on Tuesday, July 14th. UBS Group reduced their price objective on RXO from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Finally, Wall Street Zen raised RXO from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, RXO has an average rating of “Hold” and an average price target of $23.85.

RXO Price Performance

NYSE RXO opened at $21.23 on Tuesday. The business’s fifty day moving average is $24.52 and its 200 day moving average is $20.87. Rxo Inc has a fifty-two week low of $10.43 and a fifty-two week high of $29.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market capitalization of $3.50 billion, a PE ratio of -34.80 and a beta of 2.10.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the business posted $0.04 earnings per share. The business’s quarterly revenue was up 25.0% on a year-over-year basis. Sell-side analysts predict that Rxo Inc will post 0.13 earnings per share for the current year.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.