Driehaus Capital Management LLC Lowers Holdings in Rxo Inc $RXO

Key Points

• Driehaus Capital Management LLC has reduced its stake in RXO Inc by 57.2%, selling 867,894 shares, leaving it with a total of 650,037 shares worth approximately $12.42 million.
• Wellington Management Group LLP significantly increased its holdings in RXO by 374.1%, now owning over 9 million shares valued at approximately $176.85 million, contributing to the institutional ownership of 92.73% in RXO.
• RXO reported an earnings per share of $0.04 for the last quarter, surpassing estimates, but reported a negative net margin of 5.45% despite a 52.6% year-over-year revenue increase to $1.42 billion.

Driehaus Capital Management LLC decreased its holdings in shares of Rxo Inc (NYSE:RXO - Free Report) by 57.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 650,037 shares of the company's stock after selling 867,894 shares during the quarter. Driehaus Capital Management LLC owned 0.40% of RXO worth $12,416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RXO. Thurston Springer Miller Herd & Titak Inc. grew its stake in RXO by 52.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company's stock worth $52,000 after purchasing an additional 945 shares in the last quarter. CWM LLC lifted its holdings in shares of RXO by 234.4% in the 1st quarter. CWM LLC now owns 1,876 shares of the company's stock worth $36,000 after buying an additional 1,315 shares during the period. PNC Financial Services Group Inc. grew its position in shares of RXO by 25.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,797 shares of the company's stock worth $130,000 after buying an additional 1,398 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of RXO by 1,990.2% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock valued at $33,000 after buying an additional 1,632 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of RXO by 20.1% in the first quarter. Gabelli Funds LLC now owns 11,000 shares of the company's stock valued at $210,000 after acquiring an additional 1,843 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

RXO Stock Performance

RXO stock traded up $0.35 during mid-day trading on Thursday, reaching $16.35. 1,262,542 shares of the company traded hands, compared to its average volume of 1,649,320. The firm's fifty day moving average is $16.04 and its two-hundred day moving average is $16.37. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -7.54, a price-to-earnings-growth ratio of 7.79 and a beta of 1.69. Rxo Inc has a fifty-two week low of $12.19 and a fifty-two week high of $31.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35.

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

Analysts Set New Price Targets

RXO has been the topic of several recent research reports. Wall Street Zen upgraded shares of RXO from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup reaffirmed a "neutral" rating and issued a $18.00 price target (up previously from $15.00) on shares of RXO in a research report on Wednesday, May 21st. The Goldman Sachs Group cut their price objective on shares of RXO from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. UBS Group restated a "neutral" rating and set a $15.00 target price (up previously from $14.00) on shares of RXO in a report on Friday, August 8th. Finally, Wells Fargo & Company dropped their target price on RXO from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.93.

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.