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

Posted by on Jun 30th, 2023

State of Alaska Department of Revenue boosted its holdings in RXO, Inc. (NYSE:RXO – Free Report) by 42.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 214,503 shares of the company’s stock after buying an additional 63,736 shares during the quarter. State of Alaska Department of Revenue owned 0.18% of RXO worth $4,212,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MFN Partners Management LP purchased a new stake in shares of RXO during the 4th quarter valued at about $218,016,000. Anomaly Capital Management LP purchased a new stake in shares of RXO during the 4th quarter valued at about $27,397,000. Dimensional Fund Advisors LP purchased a new stake in shares of RXO during the 4th quarter valued at about $26,277,000. Geode Capital Management LLC purchased a new stake in shares of RXO during the 4th quarter valued at about $25,891,000. Finally, Millennium Management LLC purchased a new stake in shares of RXO during the 4th quarter valued at about $20,030,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

RXO Price Performance

RXO stock opened at $23.27 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.25 and a current ratio of 1.25. The business has a 50 day simple moving average of $20.50 and a two-hundred day simple moving average of $19.32. RXO, Inc. has a 1-year low of $14.75 and a 1-year high of $25.50.

RXO (NYSE:RXO – Free Report) last released its earnings results on Wednesday, May 3rd. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.07 billion. The company’s revenue for the quarter was down 22.9% compared to the same quarter last year. As a group, equities analysts anticipate that RXO, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

RXO has been the subject of several research reports. Benchmark initiated coverage on shares of RXO in a research report on Tuesday, April 4th. They set a “hold” rating for the company. 92 Resources reaffirmed a “maintains” rating on shares of RXO in a research report on Thursday, May 4th. Susquehanna reduced their price target on shares of RXO from $20.00 to $19.00 in a research report on Thursday. Finally, Barclays assumed coverage on RXO in a research note on Wednesday, May 24th. They set an “overweight” rating and a $27.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.80.

RXO Company Profile

(Free Report)

RXO, Inc provides full truckload freight transportation brokering services. The company also offers brokered services for managed transportation, last mile, and freight forwarding. RXO, Inc was founded in 2022 and is based in Charlotte, North Carolina.

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Institutional Ownership by Quarter for RXO (NYSE:RXO)

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