Russell Investments Group Ltd. Decreases Stake in RXO, Inc. (NYSE:RXO)

Russell Investments Group Ltd. decreased its holdings in shares of RXO, Inc. (NYSE:RXO) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,869 shares of the company’s stock after selling 4,556 shares during the quarter. Russell Investments Group Ltd. owned about 0.24% of RXO worth $6,626,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in RXO by 1.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock valued at $1,231,000 after acquiring an additional 820 shares during the last quarter. Rhumbline Advisers boosted its stake in RXO by 0.3% during the third quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock worth $6,981,000 after buying an additional 905 shares during the last quarter. GAMMA Investing LLC acquired a new position in RXO during the fourth quarter worth $27,000. Oppenheimer Asset Management Inc. grew its holdings in RXO by 9.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 20,788 shares of the company’s stock valued at $410,000 after buying an additional 1,855 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of RXO by 6,329.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after acquiring an additional 1,962 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a report on Monday, March 25th. Vertical Research lowered shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Wednesday, January 10th. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Friday, April 19th. Bank of America cut RXO from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Finally, Oppenheimer decreased their price target on RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.55.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp acquired 105,065 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $20.07 per share, with a total value of $2,108,654.55. Following the completion of the acquisition, the insider now owns 17,280,434 shares in the company, valued at $346,818,310.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 1,127,999 shares of company stock worth $22,097,846 over the last 90 days. 1.80% of the stock is owned by insiders.

RXO Price Performance

RXO stock opened at $20.46 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $20.56 and a 200-day simple moving average of $20.93. The stock has a market cap of $2.40 billion, a P/E ratio of -227.33, a price-to-earnings-growth ratio of 7.91 and a beta of 1.24. RXO, Inc. has a 12-month low of $16.94 and a 12-month high of $24.33.

RXO (NYSE:RXO) last announced its quarterly earnings results 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 positive return on equity of 3.23% and a negative net margin of 0.29%. The company had revenue of $913.00 million during the quarter, compared to the consensus estimate of $929.50 million. During the same period in the previous year, the business earned $0.11 EPS. RXO’s revenue for the quarter was down 9.6% on a year-over-year basis. Equities analysts expect that RXO, Inc. will post 0.2 EPS for the current fiscal year.

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.