Amalgamated Bank Sells 1,131 Shares of RXO, Inc. (NYSE:RXO)

Amalgamated Bank trimmed its position in shares of RXO, Inc. (NYSE:RXO) by 3.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 35,872 shares of the company’s stock after selling 1,131 shares during the quarter. Amalgamated Bank’s holdings in RXO were worth $938,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RXO. Motco boosted its stake in shares of RXO by 5,450.0% during the 1st quarter. Motco now owns 2,442 shares of the company’s stock worth $53,000 after purchasing an additional 2,398 shares during the period. TFO Wealth Partners LLC boosted its position in shares of RXO by 106,833.3% during 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 during the period. Allspring Global Investments Holdings LLC grew its stake in shares of RXO by 2,235.3% during 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 during the last quarter. PNC Financial Services Group Inc. raised its holdings 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 worth $121,000 after buying an additional 1,987 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of RXO in the first quarter worth approximately $151,000. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RXO has been the topic of several research analyst reports. TD Cowen upped their price objective on RXO from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group cut their price target on shares of RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Benchmark reissued a “hold” rating on shares of RXO in a research report on Tuesday, August 13th. Morgan Stanley raised their target price on shares of RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, UBS Group boosted their price target on shares of RXO from $22.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, RXO currently has an average rating of “Hold” and a consensus target price of $25.67.

RXO Stock Performance

Shares of RXO stock opened at $27.55 on Friday. RXO, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $32.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50-day simple moving average is $28.34 and its 200-day simple moving average is $24.13.

RXO (NYSE:RXO) last released its earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $930.00 million for the quarter, compared to the consensus estimate of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. RXO’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. As a group, sell-side analysts forecast that RXO, Inc. will post 0.14 EPS 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.