State of Alaska Department of Revenue Raises Holdings in RXO, Inc. (NYSE:RXO)

State of Alaska Department of Revenue increased its stake in shares of RXO, Inc. (NYSE:RXO) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,298 shares of the company’s stock after acquiring an additional 12,284 shares during the period. State of Alaska Department of Revenue owned about 0.13% of RXO worth $5,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new stake in RXO in the 2nd quarter worth approximately $226,000. The Manufacturers Life Insurance Company boosted its holdings in RXO by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 65,867 shares of the company’s stock worth $1,722,000 after buying an additional 2,423 shares in the last quarter. GAMMA Investing LLC boosted its holdings in RXO by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock worth $50,000 after buying an additional 510 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in RXO during the third quarter valued at $234,000. Finally, Creative Planning purchased a new position in RXO in the third quarter valued at $361,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RXO has been the topic of several recent analyst reports. Citigroup lowered shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Tuesday, November 12th. Jefferies Financial Group lowered their price target on RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley cut their price objective on RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday. Susquehanna reduced their target price on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus dropped their price target on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.14.

RXO Stock Performance

NYSE:RXO opened at $20.48 on Friday. The company has a market cap of $3.29 billion, a P/E ratio of -10.34, a P/E/G ratio of 3.98 and a beta of 1.53. RXO, Inc. has a twelve month low of $18.75 and a twelve month high of $32.82. The company’s 50-day moving average price is $25.59 and its 200-day moving average price is $27.44. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21.

RXO (NYSE:RXO) last released its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. On average, sell-side analysts forecast that RXO, Inc. will post 0.12 earnings per share for the current fiscal year.

About RXO

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.