SG Americas Securities LLC Sells 257,761 Shares of Rxo Inc $RXO

SG Americas Securities LLC lessened its stake in shares of Rxo Inc (NYSE:RXO) by 80.1% in the first quarter, HoldingsChannel.com reports. The firm owned 64,083 shares of the company’s stock after selling 257,761 shares during the quarter. SG Americas Securities LLC’s holdings in RXO were worth $937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Orbis Allan Gray Ltd raised its holdings in RXO by 6.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after buying an additional 2,104,597 shares during the last quarter. Vanguard Group Inc. grew its holdings in RXO by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock worth $218,796,000 after acquiring an additional 93,130 shares during the last quarter. Wellington Management Group LLP increased its position in shares of RXO by 7.9% in the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after acquiring an additional 735,810 shares during the period. Finepoint Capital LP purchased a new position in shares of RXO in the third quarter valued at about $111,764,000. Finally, State Street Corp raised its stake in shares of RXO by 3.7% during the fourth quarter. State Street Corp now owns 6,370,232 shares of the company’s stock valued at $80,520,000 after acquiring an additional 230,053 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RXO. Truist Financial increased their target price on shares of RXO from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings upgraded RXO from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Wall Street Zen raised RXO from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Citigroup increased their price objective on RXO from $17.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Stifel Nicolaus upgraded RXO from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.00.

RXO Price Performance

RXO stock opened at $26.59 on Monday. The firm has a 50 day moving average price of $24.20 and a 200-day moving average price of $18.12. Rxo Inc has a 52-week low of $10.43 and a 52-week high of $29.86. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -43.59 and a beta of 2.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the business posted ($0.03) EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that Rxo Inc will post 0.07 EPS for the current fiscal year.

About RXO

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.