Silvercrest Asset Management Group LLC Boosts Stock Position in RXO, Inc. (NYSE:RXO)

Silvercrest Asset Management Group LLC raised its position in shares of RXO, Inc. (NYSE:RXO) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 654,337 shares of the company’s stock after purchasing an additional 2,913 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.56% of RXO worth $14,310,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in RXO during the 4th quarter valued at about $27,000. Motco grew its stake in RXO by 5,450.0% during the 1st quarter. Motco now owns 2,442 shares of the company’s stock valued at $53,000 after purchasing an additional 2,398 shares during the last quarter. TFO Wealth Partners LLC grew its stake in RXO by 106,833.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock valued at $70,000 after purchasing an additional 3,205 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in RXO by 2,235.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after purchasing an additional 3,487 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in RXO by 2,008.5% during the 4th quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock valued at $121,000 after purchasing an additional 4,941 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Price Performance

NYSE:RXO traded up $0.77 during trading hours on Tuesday, hitting $31.95. 277,756 shares of the stock were exchanged, compared to its average volume of 696,116. RXO, Inc. has a 52-week low of $16.94 and a 52-week high of $32.31. The firm’s fifty day moving average price is $24.25 and its 200 day moving average price is $22.13. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.76 billion, a P/E ratio of -346.56, a P/E/G ratio of 5.85 and a beta of 1.40.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate 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 analyst estimates of $929.50 million. During the same period in the previous year, the business earned $0.11 EPS. RXO’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that RXO, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RXO. Stephens reissued an “equal weight” rating and issued a $22.00 price objective on shares of RXO in a report on Monday, May 6th. TD Cowen boosted their price objective on RXO from $19.00 to $20.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Barclays boosted their price objective on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Raymond James assumed coverage on RXO in a report on Wednesday, May 15th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on RXO from $16.00 to $25.00 and gave the stock an “underweight” rating in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RXO currently has an average rating of “Hold” and a consensus target price of $22.00.

Insider Activity

In related news, major shareholder Mfn Partners, Lp purchased 105,065 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $20.07 per share, for a total transaction of $2,108,654.55. Following the completion of the transaction, the insider now directly owns 17,280,434 shares of the company’s stock, valued at $346,818,310.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased 105,487 shares of company stock worth $2,117,263 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.