State of Alaska Department of Revenue Sells 163,104 Shares of Rxo Inc $RXO

Key Points

• State of Alaska Department of Revenue cut its stake in RXO by 63.5%, selling 163,104 shares and now holds 93,879 shares (about 0.06% of the company) worth roughly $1.19M.
• RXO missed quarterly expectations, reporting -$0.07 EPS versus a -$0.04 consensus and $1.47B in revenue (down 11.9% YoY), and posted negative net margin and return on equity.
• Analysts maintain a consensus "Hold" rating with a $15.77 price target even as some firms raised targets to $17–$18; the stock trades near $19.50 and institutional ownership is about 92.7%.

State of Alaska Department of Revenue lowered its stake in shares of Rxo Inc (NYSE:RXO - Free Report) by 63.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,879 shares of the company's stock after selling 163,104 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of RXO worth $1,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RXO. Royal Bank of Canada increased its position in RXO by 14.3% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in RXO by 4.6% during the first 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 in the last quarter. Geneos Wealth Management Inc. acquired a new stake in RXO during the first quarter worth $30,000. Strs Ohio acquired a new stake in RXO during the first quarter worth $97,000. Finally, Quantbot Technologies LP acquired a new stake in RXO during the second quarter worth $245,000. Institutional investors own 92.73% of the company's stock.

RXO Stock Up 4.4%

Shares of NYSE:RXO opened at $19.53 on Tuesday. Rxo Inc has a 52 week low of $10.43 and a 52 week high of $19.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.27. The company's fifty day moving average is $14.92 and its 200-day moving average is $14.82. The company has a market capitalization of $3.22 billion, a PE ratio of -33.67, a P/E/G ratio of 24.60 and a beta of 1.65.

RXO (NYSE:RXO - Get Free Report) last issued its earnings results on Friday, February 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). RXO had a negative net margin of 1.74% and a negative return on equity of 0.44%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm posted $0.06 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts predict that Rxo Inc will post 0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RXO shares. Barclays lifted their price target on shares of RXO from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. Citigroup lifted their price target on shares of RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Benchmark reiterated a "hold" rating on shares of RXO in a research note on Monday, February 9th. UBS Group reiterated a "neutral" rating on shares of RXO in a research note on Sunday, February 8th. Finally, TD Cowen reiterated a "hold" rating on shares of RXO in a research note on Friday, January 9th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $15.77.

RXO 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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