Rialto Wealth Management LLC Purchases 16,200 Shares of Rxo Inc $RXO

Rialto Wealth Management LLC increased its holdings in Rxo Inc (NYSE:RXO) by 144.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,386 shares of the company’s stock after acquiring an additional 16,200 shares during the quarter. Rialto Wealth Management LLC’s holdings in RXO were worth $431,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of RXO by 374.1% in the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock valued at $176,855,000 after purchasing an additional 7,306,537 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of RXO during the first quarter valued at approximately $56,693,000. Nuveen LLC purchased a new position in RXO during the first quarter valued at approximately $8,107,000. Fred Alger Management LLC raised its stake in RXO by 21.4% in the first quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock worth $40,202,000 after buying an additional 371,511 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its stake in RXO by 4.1% in the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock worth $58,789,000 after buying an additional 148,738 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stifel Nicolaus increased their target price on RXO from $14.00 to $17.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Susquehanna decreased their price objective on RXO from $11.00 to $10.00 and set a “negative” rating for the company in a research note on Friday. Wall Street Zen downgraded RXO from a “hold” rating to a “sell” rating in a research report on Saturday. Cowen reiterated a “hold” rating on shares of RXO in a research note on Friday, August 8th. Finally, The Goldman Sachs Group reduced their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.85.

RXO Trading Down 8.0%

Shares of NYSE:RXO opened at $12.47 on Friday. The business’s 50-day moving average is $16.70 and its 200 day moving average is $16.02. Rxo Inc has a 1 year low of $12.16 and a 1 year high of $31.11. The firm has a market capitalization of $2.04 billion, a P/E ratio of -28.99, a P/E/G ratio of 8.53 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.35.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business posted $0.05 EPS. RXO’s revenue was up 34.6% compared to the same quarter last year. On average, research analysts predict that Rxo Inc will post 0.31 earnings per share 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.