Penn Capital Management Company LLC Reduces Stock Position in RXO, Inc. (NYSE:RXO)

Penn Capital Management Company LLC lowered its position in shares of RXO, Inc. (NYSE:RXO - Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 585,750 shares of the company's stock after selling 76,486 shares during the quarter. RXO makes up about 1.4% of Penn Capital Management Company LLC's holdings, making the stock its 21st largest holding. Penn Capital Management Company LLC owned 0.36% of RXO worth $13,964,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RXO. Oregon Public Employees Retirement Fund lifted its holdings in RXO by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company's stock valued at $783,000 after acquiring an additional 500 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after purchasing an additional 510 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in RXO by 1.8% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company's stock worth $712,000 after buying an additional 518 shares during the period. Mutual of America Capital Management LLC lifted its holdings in RXO by 2.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company's stock worth $505,000 after buying an additional 551 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of RXO by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 47,110 shares of the company's stock worth $1,123,000 after acquiring an additional 747 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

RXO Trading Down 0.7 %

Shares of NYSE:RXO traded down $0.10 during trading on Tuesday, reaching $13.56. 627,100 shares of the stock were exchanged, compared to its average volume of 1,145,693. The firm's 50-day moving average price is $17.10 and its 200 day moving average price is $23.16. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -6.39, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. RXO, Inc. has a 12-month low of $12.19 and a 12-month high of $32.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26.

RXO (NYSE:RXO - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, sell-side analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RXO shares. Oppenheimer downgraded RXO from an "outperform" rating to a "market perform" rating in a report on Friday, April 4th. Jefferies Financial Group lowered their price target on shares of RXO from $26.00 to $20.00 and set a "buy" rating for the company in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of RXO in a research report on Friday, March 7th. They set a "hold" rating and a $19.00 price objective for the company. Barclays dropped their target price on RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Finally, Susquehanna lowered their price objective on RXO from $18.00 to $13.00 and set a "negative" rating for the company in a research report on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, RXO currently has a consensus rating of "Hold" and a consensus price target of $22.40.

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.