Rxo Inc $RXO Shares Sold by Finepoint Capital LP

Finepoint Capital LP reduced its position in Rxo Inc (NYSE:RXO) by 46.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,355,445 shares of the company’s stock after selling 4,718,173 shares during the period. RXO accounts for about 5.3% of Finepoint Capital LP’s holdings, making the stock its 3rd largest holding. Finepoint Capital LP’s holdings in RXO were worth $147,757,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RXO. City Holding Co. increased its stake in RXO by 227.6% during the second quarter. City Holding Co. now owns 1,245 shares of the company’s stock worth $34,000 after acquiring an additional 865 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of RXO in the 1st quarter valued at about $30,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of RXO in the 1st quarter valued at about $29,000. Quarry LP purchased a new stake in shares of RXO during the 3rd quarter worth about $33,000. Finally, Nykredit A S purchased a new stake in shares of RXO during the 2nd quarter worth about $67,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of RXO in a report on Tuesday, September 1st. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Tuesday, July 28th. Stephens raised shares of RXO to a “hold” rating in a research report on Wednesday, July 8th. Truist Financial cut their target price on shares of RXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Wells Fargo & Company lifted their target price on shares of RXO from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.91.

RXO Stock Performance

Shares of NYSE:RXO opened at $20.02 on Thursday. The company has a market cap of $3.30 billion, a P/E ratio of -32.81 and a beta of 2.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.27 and a current ratio of 1.27. Rxo Inc has a one year low of $10.43 and a one year high of $29.90. The business’s 50-day simple moving average is $23.59 and its 200 day simple moving average is $21.14.

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

RXO Profile

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.