Finepoint Capital LP Sells 4,718,173 Shares of Rxo Inc $RXO

Key Points

• Finepoint Capital cut its RXO stake by 46.8%, selling 4,718,173 shares in the second quarter and retaining 5,355,445 shares valued at approximately $147.8 million.
• RXO reported quarterly revenue of $1.77 billion, up 25% year over year and above estimates, while adjusted earnings of $0.06 per share exceeded consensus by $0.02.
• RXO shares opened at $20.02, below their 50-day moving average, while analysts maintained a consensus “Hold” rating with an average price target of $23.91.

Finepoint Capital LP reduced its holdings in shares of Rxo Inc (NYSE:RXO - Free Report) by 46.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,355,445 shares of the company's stock after selling 4,718,173 shares during the quarter. RXO makes up 5.3% of Finepoint Capital LP's investment portfolio, making the stock its 3rd largest position. Finepoint Capital LP owned approximately 3.25% of RXO worth $147,757,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC purchased a new position in shares of RXO during the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. purchased a new stake in RXO in the 1st quarter valued at approximately $30,000. Quarry LP acquired a new stake in RXO during the 3rd quarter valued at $33,000. City Holding Co. grew its holdings in RXO by 227.6% during the 2nd quarter. City Holding Co. now owns 1,245 shares of the company's stock valued at $34,000 after buying an additional 865 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in RXO by 146.5% during the third quarter. Larson Financial Group LLC now owns 2,766 shares of the company's stock worth $43,000 after buying an additional 1,644 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

RXO Stock Performance

NYSE RXO opened at $20.02 on Thursday. The business's 50-day moving average price is $23.59 and its 200 day moving average price is $21.14. Rxo Inc has a twelve month low of $10.43 and a twelve month high of $29.90. The company has a market capitalization of $3.30 billion, a PE ratio of -32.81 and a beta of 2.10. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.30.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $0.04 EPS. The firm's quarterly revenue was up 25.0% on a year-over-year basis. On average, research analysts predict that Rxo Inc will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Stephens upgraded RXO to a "hold" rating in a research report on Wednesday, July 8th. Barclays lifted their price objective on RXO from $20.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. BMO Capital Markets initiated coverage on shares of RXO in a research note on Monday, July 13th. They issued an "outperform" rating and a $35.00 target price for the company. Stifel Nicolaus set a $31.00 target price on shares of RXO in a report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft set a $30.00 price target on shares of RXO in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $23.91.

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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