Emerald Advisers LLC Boosts Stake in Rxo Inc $RXO

Emerald Advisers LLC increased its holdings in shares of Rxo Inc (NYSE:RXO) by 434,029.7% during the first quarter, Holdings Channel.com reports. The fund owned 438,471 shares of the company’s stock after buying an additional 438,370 shares during the period. Emerald Advisers LLC’s holdings in RXO were worth $6,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Orbis Allan Gray Ltd raised its holdings in RXO by 6.5% in the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock worth $438,327,000 after purchasing an additional 2,104,597 shares during the period. Vanguard Group Inc. grew its holdings in RXO by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock valued at $218,796,000 after purchasing an additional 93,130 shares during the period. 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 buying an additional 735,810 shares in the last quarter. State Street Corp increased its position in shares of RXO by 3.7% in the fourth quarter. State Street Corp now owns 6,370,232 shares of the company’s stock valued at $80,520,000 after buying an additional 230,053 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of RXO by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,876,488 shares of the company’s stock valued at $49,008,000 after buying an additional 18,110 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Price Performance

Shares of RXO stock opened at $28.07 on Wednesday. The business has a 50 day simple moving average of $25.27 and a two-hundred day simple moving average of $18.78. Rxo Inc has a 12 month low of $10.43 and a 12 month high of $29.86. The stock has a market capitalization of $4.63 billion, a P/E ratio of -46.02 and a beta of 2.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27.

RXO (NYSE:RXO) last released its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. As a group, analysts predict that Rxo Inc will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RXO. Barclays increased their target price on RXO from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Wells Fargo & Company boosted their price target on shares of RXO from $15.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Susquehanna upped their price objective on shares of RXO from $18.00 to $20.00 and gave the stock a “negative” rating in a research report on Tuesday. Truist Financial increased their price objective on shares of RXO from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Stephens upgraded shares of RXO to a “hold” rating in a research report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.14.

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.