State of Alaska Department of Revenue Sells 29,830 Shares of Rxo Inc $RXO

State of Alaska Department of Revenue lessened its holdings in Rxo Inc (NYSE:RXO) by 46.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,919 shares of the company’s stock after selling 29,830 shares during the quarter. State of Alaska Department of Revenue’s holdings in RXO were worth $713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of RXO. Maple Rock Capital Partners Inc. purchased a new position in RXO during the 2nd quarter worth approximately $71,283,000. Dimensional Fund Advisors LP boosted its holdings in shares of RXO by 32.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,048,903 shares of the company’s stock valued at $29,949,000 after acquiring an additional 504,955 shares during the last quarter. Emerald Advisers LLC boosted its holdings in shares of RXO by 434,029.7% in the 1st quarter. Emerald Advisers LLC now owns 438,471 shares of the company’s stock valued at $6,410,000 after acquiring an additional 438,370 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of RXO by 128.6% in the 1st quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock valued at $10,586,000 after acquiring an additional 407,285 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of RXO in the first quarter worth $4,034,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RXO shares. Barclays raised their target price on shares of RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Susquehanna upgraded shares of RXO from a “negative” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $19.00 in a research report on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft set a $30.00 price target on shares of RXO in a report on Friday, August 7th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Tuesday, July 28th. Finally, Citizens Jmp downgraded RXO from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.08.

RXO Trading Up 0.5%

Shares of NYSE:RXO opened at $28.93 on Friday. Rxo Inc has a 12-month low of $10.43 and a 12-month high of $29.90. The company has a market capitalization of $4.77 billion, a PE ratio of -47.42 and a beta of 2.10. The business has a 50 day moving average of $23.05 and a two-hundred day moving average of $23.27. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.30.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.63 billion. RXO had a negative net margin of 1.72% and a negative return on equity of 0.98%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company earned $0.04 EPS. As a group, analysts forecast that Rxo Inc will post 0.15 EPS for the current year.

RXO Profile

RXO, Inc is a transportation and logistics company that connects shippers with motor carriers and other transportation providers. The company primarily operates an asset-light business model, arranging freight transportation rather than owning a large fleet of trucks.

Its services include truckload freight brokerage, managed transportation and last-mile delivery. RXO uses technology and logistics expertise to help businesses source transportation capacity, manage shipments and coordinate deliveries across their supply chains.

RXO serves customers throughout North America, including the United States, Canada and Mexico.