Edgestream Partners L.P. Decreases Position in Rxo Inc $RXO

Key Points

• Edgestream Partners cut its RXO position by 61.4% in the first quarter, selling 202,314 shares and retaining 127,380 shares worth approximately $1.86 million. Institutional investors collectively own 92.73% of the company.
• RXO reported quarterly revenue of $1.43 billion, exceeding analyst expectations of $1.34 billion, but posted a loss of $0.09 per share and a 0.6% year-over-year revenue decline.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $23.57; RXO shares opened at $20.25, below their 50-day moving average of $26.50.

Edgestream Partners L.P. trimmed its position in Rxo Inc (NYSE:RXO - Free Report) by 61.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 127,380 shares of the company's stock after selling 202,314 shares during the period. Edgestream Partners L.P. owned about 0.08% of RXO worth $1,862,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RXO. Geneos Wealth Management Inc. purchased a new position in shares of RXO in the first quarter valued at approximately $30,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of RXO in the first quarter worth approximately $29,000. Flagship Harbor Advisors LLC purchased a new stake in shares of RXO during the fourth quarter worth approximately $25,000. Quarry LP purchased a new stake in shares of RXO during the third quarter worth approximately $33,000. Finally, Larson Financial Group LLC raised its stake in RXO by 146.5% in the 3rd quarter. Larson Financial Group LLC now owns 2,766 shares of the company's stock valued at $43,000 after purchasing an additional 1,644 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Stock Performance

Shares of RXO stock opened at $20.25 on Monday. The business's 50 day moving average price is $26.50 and its 200 day moving average price is $19.92. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -33.19 and a beta of 2.10. The company has a debt-to-equity ratio of 0.28, 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.

RXO (NYSE:RXO - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the business earned ($0.03) EPS. The firm's quarterly revenue was down .6% on a year-over-year basis. On average, research analysts predict that Rxo Inc will post 0.07 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citizens Jmp initiated coverage on RXO in a report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Citigroup began coverage on shares of RXO in a report on Wednesday, July 15th. They set a "market perform" rating for the company. Benchmark reissued a "hold" rating on shares of RXO in a research note on Tuesday, July 28th. Barclays boosted their price target on shares of RXO from $20.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Finally, Wells Fargo & Company upped their price objective on shares of RXO from $15.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $23.57.

RXO Company 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.

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