Russell Investments Group Ltd. Trims Holdings in Rxo Inc $RXO

Key Points

• Russell Investments Group Ltd. reduced its stake in RXO Inc by 31.1%, selling 51,532 shares and ending the first quarter with 114,353 shares valued at approximately $2.18 million.
• In contrast, other institutional investors such as Principal Financial Group and GAMMA Investing LLC have increased their holdings in RXO, showcasing varied investor sentiment.
• RXO reported positive earnings of $0.04 per share, surpassing estimates, although its revenue fell short of projections at $1.42 billion, reflecting a year-over-year revenue increase of 52.6%.

Russell Investments Group Ltd. reduced its position in Rxo Inc (NYSE:RXO - Free Report) by 31.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 114,353 shares of the company's stock after selling 51,532 shares during the period. Russell Investments Group Ltd. owned about 0.07% of RXO worth $2,184,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in RXO by 3.4% during the first quarter. Principal Financial Group Inc. now owns 707,430 shares of the company's stock worth $13,512,000 after purchasing an additional 23,160 shares during the period. New York State Teachers Retirement System raised its stake in RXO by 1.8% during the first quarter. New York State Teachers Retirement System now owns 115,904 shares of the company's stock worth $2,214,000 after purchasing an additional 2,000 shares during the period. GAMMA Investing LLC raised its stake in RXO by 1,728.8% during the first quarter. GAMMA Investing LLC now owns 36,997 shares of the company's stock worth $707,000 after purchasing an additional 34,974 shares during the period. SG Americas Securities LLC raised its stake in RXO by 251.2% during the first quarter. SG Americas Securities LLC now owns 51,761 shares of the company's stock worth $989,000 after purchasing an additional 37,024 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in RXO during the fourth quarter worth approximately $3,738,000. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RXO. Wall Street Zen raised shares of RXO from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley decreased their price objective on shares of RXO from $23.00 to $21.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Bank of America boosted their price objective on shares of RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. decreased their price objective on shares of RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a research note on Tuesday, July 8th. Finally, UBS Group reiterated a "neutral" rating and set a $15.00 price objective (up from $14.00) on shares of RXO in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.93.

RXO Stock Down 0.1%

Shares of RXO traded down $0.02 during mid-day trading on Friday, reaching $16.33. 1,547,227 shares of the stock traded hands, compared to its average volume of 2,024,093. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -7.56, a P/E/G ratio of 7.79 and a beta of 1.69. The stock has a fifty day simple moving average of $16.03 and a 200 day simple moving average of $16.41. Rxo Inc has a 12-month low of $12.19 and a 12-month high of $31.98. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.24.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The company had revenue of $1.42 billion for 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 quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. Sell-side analysts expect that Rxo Inc will post 0.31 EPS for the current fiscal year.

About RXO

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.