Emerald Advisers LLC Boosts Stock Position in Rxo Inc $RXO

Key Points

• Emerald Advisers LLC dramatically increased its RXO stake in Q1, buying 438,370 additional shares and lifting its position to 438,471 shares worth about $6.41 million.
• Institutional interest in RXO remains high, with 92.73% of shares held by hedge funds and other institutions; several firms also added to or initiated positions during the period.
• Analysts are mixed on the stock: RXO has a Hold consensus rating with a consensus price target of $23.14, while the shares recently traded up 3.6% to $28.07 after the company beat revenue expectations in its latest earnings report.

Emerald Advisers LLC grew its position in Rxo Inc (NYSE:RXO - Free Report) by 434,029.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 438,471 shares of the company's stock after purchasing an additional 438,370 shares during the period. Emerald Advisers LLC owned approximately 0.27% of RXO worth $6,410,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RXO. Royal Bank of Canada boosted its position in RXO by 14.3% in the first quarter. Royal Bank of Canada now owns 23,251 shares of the company's stock valued at $444,000 after buying an additional 2,902 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in RXO by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company's stock worth $1,813,000 after buying an additional 4,134 shares during the period. Geneos Wealth Management Inc. purchased a new position in RXO during the 1st quarter worth approximately $30,000. Strs Ohio purchased a new position in RXO during the 1st quarter worth approximately $97,000. Finally, Quantbot Technologies LP acquired a new stake in RXO during the 2nd quarter valued at approximately $245,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on RXO shares. BMO Capital Markets assumed coverage on shares of RXO in a report on Monday. They issued an "outperform" rating and a $35.00 price objective on the stock. Susquehanna raised their target price on shares of RXO from $18.00 to $20.00 and gave the stock a "negative" rating in a report on Tuesday. TD Cowen boosted their target price on shares of RXO from $14.00 to $21.00 and gave the company a "hold" rating in a research report on Friday, May 8th. Bank of America decreased their target price on shares of RXO from $17.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, March 25th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $22.00 price target (up from $19.00) on shares of RXO in a report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $23.14.

RXO Trading Up 3.6%

Shares of NYSE:RXO opened at $28.07 on Wednesday. Rxo Inc has a 12-month low of $10.43 and a 12-month high of $29.86. The company has a market capitalization of $4.63 billion, a PE ratio of -46.02 and a beta of 2.03. The business has a 50 day moving average of $25.27 and a two-hundred day moving average of $18.78. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, hitting analysts' consensus estimates of ($0.09). The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.34 billion. RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The business's revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) EPS. As a group, analysts forecast that Rxo Inc will post 0.08 EPS for the current year.

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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