Rxo Inc $RXO Stock: Mawer Investment Management Ltd. Decreases Holdings

Mawer Investment Management Ltd. cut its holdings in Rxo Inc (NYSE:RXO) by 32.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 443,789 shares of the company’s stock after selling 213,556 shares during the period. Mawer Investment Management Ltd. owned approximately 0.27% of RXO worth $9,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Maple Rock Capital Partners Inc. bought a new stake in shares of RXO during the 2nd quarter valued at about $71,283,000. Dimensional Fund Advisors LP increased its holdings in RXO by 32.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,048,903 shares of the company’s stock worth $29,949,000 after purchasing an additional 504,955 shares in the last quarter. Bank of America Corp DE increased its holdings in RXO by 128.6% in the first quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock worth $10,586,000 after purchasing an additional 407,285 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in RXO in the first quarter valued at approximately $3,655,000. Finally, Fifth Third Bancorp lifted its stake in RXO by 21,691.7% in the first quarter. Fifth Third Bancorp now owns 146,222 shares of the company’s stock valued at $2,138,000 after buying an additional 145,551 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

RXO Stock Up 0.5%

RXO stock traded up $0.15 during midday trading on Friday, reaching $28.45. The 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 company 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 fifty day moving average price of $25.11 and a two-hundred day moving average price of $21.66. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.30.

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

Wall Street Analysts Forecast Growth

RXO has been the topic of a number of research analyst reports. Deutsche Bank set a $30.00 price target on RXO in a report on Friday, August 7th. Stifel Nicolaus set a $31.00 price objective on shares of RXO in a research note on Friday, August 7th. Citigroup lowered shares of RXO from a “neutral” rating to a “market perform” rating in a research note on Thursday, October 15th. Jefferies Financial Group downgraded shares of RXO from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Tuesday, October 6th. Finally, Zacks Research upgraded shares of RXO from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.