Picton Mahoney Asset Management Raises Position in Rxo Inc (NYSE:RXO)

Key Points

• Picton Mahoney Asset Management increased its stake in Rxo Inc by 25.8% during the first quarter, owning approximately 0.29% of the company worth $9.18 million after acquiring additional shares.
• A range of institutional investors have shown interest in RXO, with the Vanguard Group boosting their position by 13.2% and owning over 17 million shares valued at approximately $410 million.
• Analysts have varied target price revisions for RXO, with estimates ranging from a low of $12.00 to a high of $24.00, while the consensus rating is a "Hold" with an average target price of $18.87.

Picton Mahoney Asset Management increased its holdings in shares of Rxo Inc (NYSE:RXO - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 480,761 shares of the company's stock after acquiring an additional 98,488 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.29% of RXO worth $9,182,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock worth $410,137,000 after acquiring an additional 2,009,937 shares during the period. Norges Bank acquired a new stake in RXO in the 4th quarter worth about $28,342,000. Franklin Resources Inc. boosted its position in RXO by 122.6% during the 4th quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock worth $39,971,000 after buying an additional 923,307 shares during the period. Douglas Lane & Associates LLC increased its stake in 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 purchasing an additional 916,379 shares in the last quarter. Finally, FIL Ltd increased its holdings in RXO by 10.4% during the fourth quarter. FIL Ltd now owns 6,327,889 shares of the company's stock worth $150,857,000 after buying an additional 596,158 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on RXO. Wells Fargo & Company decreased their price target on shares of RXO from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Stifel Nicolaus decreased their target price on shares of RXO from $24.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Bank of America increased their price target on RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. JPMorgan Chase & Co. reduced their price objective on RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a report on Tuesday, July 8th. Finally, Susquehanna set a $12.00 price objective on RXO and gave the company a "neutral" rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, RXO presently has an average rating of "Hold" and a consensus target price of $18.87.

RXO Price Performance

NYSE:RXO traded down $0.61 during mid-day trading on Friday, reaching $14.84. The stock had a trading volume of 1,282,303 shares, compared to its average volume of 1,584,799. Rxo Inc has a 12 month low of $12.19 and a 12 month high of $31.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $2.43 billion, a PE ratio of -6.78, a P/E/G ratio of 7.64 and a beta of 1.69. The stock has a 50-day simple moving average of $16.14 and a two-hundred day simple moving average of $17.79.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.51 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.94%. The company's revenue for the quarter was up 57.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, equities analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current year.

RXO Company 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.