Jacobs Levy Equity Management Inc. Decreases Position in RXO, Inc. (NYSE:RXO)

Jacobs Levy Equity Management Inc. reduced its stake in RXO, Inc. (NYSE:RXO) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,093,379 shares of the company’s stock after selling 5,270 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in RXO were worth $23,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RXO. GAMMA Investing LLC purchased a new position in RXO during the fourth quarter worth about $27,000. Motco increased its stake in RXO by 5,450.0% during the first quarter. Motco now owns 2,442 shares of the company’s stock worth $53,000 after acquiring an additional 2,398 shares during the last quarter. TFO Wealth Partners LLC increased its stake in RXO by 106,833.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after acquiring an additional 3,205 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in RXO by 2,235.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock worth $80,000 after acquiring an additional 3,487 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of RXO by 2,008.5% in the fourth quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock valued at $121,000 after buying an additional 4,941 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RXO has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on RXO from $16.00 to $25.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Raymond James began coverage on RXO in a report on Wednesday, May 15th. They issued a “market perform” rating for the company. Benchmark reissued a “hold” rating on shares of RXO in a report on Wednesday, June 12th. Barclays increased their price target on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Stephens reissued an “equal weight” rating and issued a $22.00 price target on shares of RXO in a report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, RXO presently has a consensus rating of “Hold” and an average target price of $22.00.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp purchased 105,065 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $20.07 per share, with a total value of $2,108,654.55. Following the acquisition, the insider now owns 17,280,434 shares in the company, valued at approximately $346,818,310.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have purchased 105,487 shares of company stock valued at $2,117,263. Insiders own 1.80% of the company’s stock.

RXO Stock Performance

NYSE:RXO traded up $0.72 during trading hours on Tuesday, reaching $31.90. 596,563 shares of the stock were exchanged, compared to its average volume of 698,315. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.60. The firm has a 50 day simple moving average of $24.25 and a 200-day simple moving average of $22.13. RXO, Inc. has a 52 week low of $16.94 and a 52 week high of $32.31. The stock has a market capitalization of $3.75 billion, a P/E ratio of -346.56, a P/E/G ratio of 5.85 and a beta of 1.40.

RXO (NYSE:RXO) last released its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $913.00 million for the quarter, compared to the consensus estimate of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. RXO’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. As a group, sell-side analysts forecast that RXO, Inc. will post 0.17 earnings per share for the current fiscal year.

RXO Company Profile

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.