State of Alaska Department of Revenue Sells 657 Shares of RXO, Inc. (NYSE:RXO)

State of Alaska Department of Revenue cut its stake in shares of RXO, Inc. (NYSE:RXO) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,085 shares of the company’s stock after selling 657 shares during the quarter. State of Alaska Department of Revenue’s holdings in RXO were worth $4,506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC bought a new position in RXO during the fourth quarter worth $27,000. Ramirez Asset Management Inc. bought a new position in RXO during the third quarter worth $45,000. TFO Wealth Partners LLC lifted its stake in shares of RXO by 106,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock valued at $70,000 after buying an additional 3,205 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of RXO by 2,235.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after buying an additional 3,487 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of RXO by 62.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock valued at $121,000 after buying an additional 1,987 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp acquired 870,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was acquired at an average price of $19.52 per share, for a total transaction of $16,982,400.00. Following the completion of the acquisition, the insider now owns 16,675,369 shares of the company’s stock, valued at approximately $325,503,202.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 1,128,060 shares of company stock worth $22,099,090. Insiders own 1.80% of the company’s stock.

RXO Trading Down 0.9 %

Shares of RXO stock opened at $26.79 on Friday. The firm has a 50-day moving average of $21.33 and a 200-day moving average of $21.47. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. RXO, Inc. has a one year low of $16.94 and a one year high of $28.13.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $929.50 million. During the same quarter last year, the company posted $0.11 earnings per share. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that RXO, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Susquehanna raised their price objective on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research note on Monday, March 25th. Stephens reaffirmed an “equal weight” rating and issued a $22.00 price objective on shares of RXO in a research note on Monday, May 6th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Wednesday, June 12th. Raymond James assumed coverage on shares of RXO in a research note on Wednesday, May 15th. They issued a “market perform” rating on the stock. Finally, TD Cowen raised their price objective on shares of RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, RXO has an average rating of “Hold” and an average price target of $19.90.

RXO 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.