Mawer Investment Management Ltd. Sells 213,556 Shares of Rxo Inc $RXO

Mawer Investment Management Ltd. decreased its holdings in shares of Rxo Inc (NYSE:RXO) by 32.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 443,789 shares of the company’s stock after selling 213,556 shares during the period. Mawer Investment Management Ltd.’s holdings in RXO were worth $9,080,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of RXO. Russell Investments Group Ltd. grew its holdings in shares of RXO by 4.8% during the third quarter. Russell Investments Group Ltd. now owns 936,831 shares of the company’s stock valued at $19,168,000 after buying an additional 43,086 shares during the last quarter. Maryland State Retirement & Pension System increased its position in shares of RXO by 52.8% during the third quarter. Maryland State Retirement & Pension System now owns 36,869 shares of the company’s stock worth $754,000 after acquiring an additional 12,745 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of RXO by 16.4% during the third quarter. Illinois Municipal Retirement Fund now owns 89,950 shares of the company’s stock worth $1,840,000 after acquiring an additional 12,695 shares in the last quarter. Penn Capital Management Company LLC raised its holdings in shares of RXO by 6.4% in the 3rd quarter. Penn Capital Management Company LLC now owns 1,037,302 shares of the company’s stock worth $21,266,000 after acquiring an additional 62,339 shares during the last quarter. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of RXO in the 3rd quarter worth about $228,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Stock Performance

Shares of NYSE RXO traded up $0.15 during midday trading on Friday, reaching $28.45. The company’s stock had a trading volume of 1,799,411 shares, compared to its average volume of 3,465,986. Rxo Inc has a 12-month low of $10.43 and a 12-month high of $29.90. The firm has a 50 day moving average price of $25.11 and a 200-day moving average price of $21.66. The stock has a market capitalization of $4.69 billion, a P/E ratio of -55.79 and a beta of 1.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.28 and a quick ratio of 1.28.

RXO (NYSE:RXO) last released its earnings results on Thursday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.82 billion. RXO had a negative return on equity of 0.07% and a negative net margin of 1.35%. RXO’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. As a group, equities analysts predict that Rxo Inc will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RXO. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Tuesday, July 28th. BMO Capital Markets downgraded RXO from an “outperform” rating to a “hold” rating and set a $30.25 price target for the company. in a research note on Tuesday, October 6th. Zacks Research raised RXO from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. UBS Group boosted their price objective on RXO from $23.00 to $30.25 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. Finally, Deutsche Bank set a $30.00 price objective on RXO in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.32.

About RXO

RXO, Inc. is an asset-light transportation and logistics provider that connects shippers with carriers through a technology-enabled freight brokerage platform. Its services include truckload and less-than-truckload brokerage, managed transportation, freight forwarding and last-mile delivery. The company serves customers primarily across North America, coordinating transportation for a range of industries and shipment types. Its technology helps customers manage shipping activity and provides visibility into freight movements.