Owls Nest Partners IA LLC Invests $9.29 Million in Rxo Inc $RXO

Owls Nest Partners IA LLC acquired a new stake in shares of Rxo Inc (NYSE:RXO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 590,798 shares of the company’s stock, valued at approximately $9,287,000. RXO comprises 2.2% of Owls Nest Partners IA LLC’s portfolio, making the stock its 10th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Squarepoint Ops LLC grew its stake in shares of RXO by 304.8% during the 2nd quarter. Squarepoint Ops LLC now owns 171,620 shares of the company’s stock valued at $2,698,000 after purchasing an additional 129,228 shares during the period. Sei Investments Co. boosted its holdings in shares of RXO by 62.2% in the second quarter. Sei Investments Co. now owns 24,854 shares of the company’s stock worth $391,000 after buying an additional 9,531 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of RXO by 39.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,801,187 shares of the company’s stock worth $28,315,000 after buying an additional 511,036 shares during the last quarter. HighVista Strategies LLC grew its position in RXO by 12.7% during the second quarter. HighVista Strategies LLC now owns 77,100 shares of the company’s stock valued at $1,212,000 after buying an additional 8,700 shares during the period. Finally, iSAM Funds UK Ltd purchased a new stake in RXO during the second quarter valued at approximately $190,000. Institutional investors own 92.73% of the company’s stock.

RXO Stock Up 4.2%

NYSE:RXO opened at $15.12 on Thursday. The company’s 50-day simple moving average is $15.01 and its 200-day simple moving average is $15.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.32. Rxo Inc has a fifty-two week low of $10.43 and a fifty-two week high of $29.60. The stock has a market capitalization of $2.48 billion, a P/E ratio of -35.15 and a beta of 1.74.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the business earned $0.05 earnings per share. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. On average, equities analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Stifel Nicolaus raised their target price on RXO from $14.00 to $17.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Benchmark reissued a “hold” rating on shares of RXO in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of RXO from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Wednesday, October 8th. Finally, Truist Financial dropped their price target on RXO from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.69.

Insider Activity at RXO

In other news, Director Troy A. Cooper purchased 8,317 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average price of $10.61 per share, with a total value of $88,243.37. Following the purchase, the director directly owned 275,416 shares in the company, valued at approximately $2,922,163.76. This represents a 3.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas A. Szlosek purchased 20,308 shares of the company’s stock in a transaction on Friday, November 7th. The shares were bought at an average price of $12.37 per share, with a total value of $251,209.96. Following the completion of the transaction, the director owned 36,508 shares of the company’s stock, valued at approximately $451,603.96. The trade was a 125.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 40,250 shares of company stock valued at $488,875. 2.80% of the stock is owned by company insiders.

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.