Fred Alger Management LLC Sells 74,554 Shares of Rxo Inc $RXO

Fred Alger Management LLC reduced its stake in shares of Rxo Inc (NYSE:RXO) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 930,143 shares of the company’s stock after selling 74,554 shares during the period. Fred Alger Management LLC owned 0.57% of RXO worth $14,306,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in shares of RXO in the first quarter valued at about $30,000. Jones Financial Companies Lllp raised its position in shares of RXO by 27.0% during the third quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock worth $49,000 after acquiring an additional 701 shares during the last quarter. CWM LLC lifted its stake in shares of RXO by 141.6% in the third quarter. CWM LLC now owns 4,231 shares of the company’s stock worth $65,000 after acquiring an additional 2,480 shares during the period. Nisa Investment Advisors LLC boosted its holdings in RXO by 17.1% in the third quarter. Nisa Investment Advisors LLC now owns 5,359 shares of the company’s stock valued at $82,000 after acquiring an additional 783 shares during the last quarter. Finally, MAI Capital Management boosted its holdings in RXO by 1,311.4% in the third quarter. MAI Capital Management now owns 5,335 shares of the company’s stock valued at $82,000 after acquiring an additional 4,957 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RXO shares. Truist Financial raised their price target on shares of RXO from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Monday, February 9th. UBS Group reissued a “neutral” rating on shares of RXO in a research note on Sunday, February 8th. Stephens set a $15.00 target price on shares of RXO in a report on Monday, February 9th. Finally, Barclays upped their price target on shares of RXO from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.29.

RXO Trading Down 1.3%

Shares of RXO stock opened at $11.97 on Tuesday. The stock has a market capitalization of $1.96 billion, a PE ratio of -20.63, a price-to-earnings-growth ratio of 8.51 and a beta of 1.67. Rxo Inc has a 52 week low of $10.43 and a 52 week high of $19.65. The stock has a 50 day moving average price of $14.93 and a two-hundred day moving average price of $15.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.27.

RXO (NYSE:RXO) last issued its earnings results on Friday, February 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). RXO had a negative return on equity of 0.44% and a negative net margin of 1.74%.The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $0.06 earnings per share. RXO’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

RXO Company Profile

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.