Intrinsic Edge Capital Management LLC Invests $3.65 Million in Rxo Inc $RXO

Intrinsic Edge Capital Management LLC bought a new stake in Rxo Inc (NYSE:RXO) in the 1st quarter, HoldingsChannel.com reports. The firm bought 250,000 shares of the company’s stock, valued at approximately $3,655,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RXO. Royal Bank of Canada boosted its holdings in RXO by 14.3% in the first quarter. Royal Bank of Canada now owns 23,251 shares of the company’s stock worth $444,000 after acquiring an additional 2,902 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of RXO by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company’s stock valued at $1,813,000 after acquiring an additional 4,134 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of RXO during the first quarter worth approximately $30,000. Strs Ohio acquired a new position in shares of RXO during the first quarter worth approximately $97,000. Finally, Quantbot Technologies LP bought a new position in shares of RXO in the 2nd quarter worth $245,000. 92.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RXO has been the topic of several research reports. Barclays upped their price objective on shares of RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Truist Financial upped their target price on shares of RXO from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. The Goldman Sachs Group lifted their price target on RXO from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Stephens raised RXO to a “hold” rating in a research note on Wednesday, July 8th. Finally, Susquehanna lifted their target price on RXO from $18.00 to $20.00 and gave the company a “negative” rating in a research report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.57.

RXO Stock Down 1.4%

RXO stock opened at $22.33 on Thursday. Rxo Inc has a fifty-two week low of $10.43 and a fifty-two week high of $29.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. The firm’s 50-day simple moving average is $26.67 and its 200 day simple moving average is $19.84. The stock has a market cap of $3.68 billion, a PE ratio of -36.61 and a beta of 2.03.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business posted ($0.03) EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Research analysts predict that Rxo Inc will post 0.07 EPS for the current fiscal year.

About RXO

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.