EFG Asset Management North America Corp. Has $2.14 Million Holdings in Rxo Inc $RXO

Key Points

• EFG Asset Management North America Corp. has reduced its stake in RXO Inc by 20.8%, selling 29,370 shares during the first quarter, and now holds 112,067 shares valued at approximately $2.14 million.
• Multiple institutional investors are adjusting their positions in RXO, with notable increases from Royal Bank of Canada (14.3%) and Penn Capital Management (21.3%), while T. Rowe Price made a new investment worth $56.69 million.
• Wall Street analysts have mixed views on RXO, with target price adjustments ranging from $12.00 to $24.00 and an average rating of "Hold", indicating cautious sentiment among investors.

EFG Asset Management North America Corp. decreased its holdings in shares of Rxo Inc (NYSE:RXO - Free Report) by 20.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,067 shares of the company's stock after selling 29,370 shares during the quarter. EFG Asset Management North America Corp. owned about 0.07% of RXO worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RXO. Wellington Management Group LLP lifted its holdings in shares of RXO by 374.1% during the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company's stock valued at $176,855,000 after acquiring an additional 7,306,537 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of RXO during the 1st quarter valued at $56,693,000. Douglas Lane & Associates LLC lifted its holdings in shares of RXO by 34.3% during the 1st quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company's stock valued at $68,589,000 after acquiring an additional 916,379 shares in the last quarter. Nuveen LLC acquired a new position in shares of RXO during the 1st quarter valued at $8,107,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of RXO by 15.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company's stock valued at $52,155,000 after acquiring an additional 355,255 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

RXO Price Performance

Shares of NYSE:RXO traded up $0.14 during trading on Friday, reaching $16.50. The company had a trading volume of 1,460,221 shares, compared to its average volume of 1,852,717. The firm's fifty day moving average is $16.07 and its 200 day moving average is $16.22. The firm has a market capitalization of $2.71 billion, a PE ratio of -7.64, a price-to-earnings-growth ratio of 7.88 and a beta of 1.69. Rxo Inc has a twelve month low of $12.19 and a twelve month high of $31.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.35.

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

Wall Street Analysts Forecast Growth

RXO has been the topic of several analyst reports. Barclays dropped their price target on shares of RXO from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. UBS Group reaffirmed a "neutral" rating and set a $15.00 price target (up previously from $14.00) on shares of RXO in a research note on Friday, August 8th. JPMorgan Chase & Co. dropped their price target on shares of RXO from $15.00 to $14.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 8th. Cowen reissued a "hold" rating on shares of RXO in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of RXO from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.93.

RXO 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.