Rxo Inc $RXO Position Reduced by EFG Asset Management North America Corp.

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. trimmed its position in shares of Rxo Inc (NYSE:RXO - Free Report) by 20.8% during the first quarter, according to the company in its most recent 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 period. EFG Asset Management North America Corp. owned about 0.07% of RXO worth $2,141,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RXO. Royal Bank of Canada boosted its holdings in RXO by 14.3% in the first quarter. Royal Bank of Canada now owns 23,251 shares of the company's stock worth $444,000 after acquiring an additional 2,902 shares in the last quarter. Gabelli Funds LLC boosted its stake in RXO by 20.1% during the first quarter. Gabelli Funds LLC now owns 11,000 shares of the company's stock valued at $210,000 after buying an additional 1,843 shares during the last quarter. Penn Capital Management Company LLC boosted its stake in RXO by 21.3% during the first quarter. Penn Capital Management Company LLC now owns 710,290 shares of the company's stock valued at $13,604,000 after buying an additional 124,540 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of RXO in the 1st quarter valued at approximately $56,693,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of RXO in the first quarter worth approximately $97,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Stock Down 0.8%

NYSE RXO traded down $0.13 during trading hours on Wednesday, hitting $16.64. The company had a trading volume of 476,182 shares, compared to its average volume of 1,649,240. Rxo Inc has a fifty-two week low of $12.19 and a fifty-two week high of $31.98. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -7.70, a P/E/G ratio of 8.13 and a beta of 1.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. The firm's 50 day moving average is $16.09 and its 200 day moving average is $16.21.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The company's revenue was up 52.6% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. Sell-side analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

RXO has been the subject of a number of recent analyst reports. Citigroup reissued a "neutral" rating and issued a $18.00 price objective (up previously from $15.00) on shares of RXO in a research report on Wednesday, May 21st. UBS Group reiterated a "neutral" rating and issued a $15.00 price objective (up from $14.00) on shares of RXO in a report on Friday, August 8th. Cowen reiterated a "hold" rating on shares of RXO in a research note on Friday, August 8th. Bank of America raised their price target on RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised RXO from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, RXO presently has a consensus rating of "Hold" and a consensus target price 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.