Jacobs Levy Equity Management Inc. Reduces Holdings in RXO, Inc. (NYSE:RXO)

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of RXO, Inc. (NYSE:RXO) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,093,379 shares of the company’s stock after selling 5,270 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.93% of RXO worth $23,912,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RXO. Straight Path Wealth Management bought a new stake in shares of RXO during the fourth quarter worth $211,000. International Assets Investment Management LLC raised its holdings 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 acquiring an additional 4,941 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of RXO by 1.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock valued at $1,231,000 after acquiring an additional 820 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of RXO in the fourth quarter valued at about $1,361,000. Finally, GAMMA Investing LLC bought a new stake in shares of RXO in the fourth quarter valued at about $27,000. 92.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RXO has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on RXO from $16.00 to $25.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. Benchmark restated a “hold” rating on shares of RXO in a report on Wednesday, June 12th. Stephens restated an “equal weight” rating and issued a $22.00 price objective on shares of RXO in a report on Monday, May 6th. Barclays lifted their target price on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, TD Cowen lifted their target price on RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.00.

Insider Transactions at RXO

In other RXO news, major shareholder Mfn Partners, Lp purchased 105,065 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $20.07 per share, for a total transaction of $2,108,654.55. Following the completion of the purchase, the insider now owns 17,280,434 shares of the company’s stock, valued at $346,818,310.38. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have acquired 105,487 shares of company stock worth $2,117,263. Insiders own 1.80% of the company’s stock.

RXO Stock Up 2.3 %

Shares of RXO stock traded up $0.72 during trading hours on Tuesday, reaching $31.90. 596,563 shares of the company’s stock were exchanged, compared to its average volume of 698,315. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $32.31. The stock has a market cap of $3.75 billion, a PE ratio of -346.56, a PEG ratio of 5.85 and a beta of 1.40. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $24.25 and its two-hundred day moving average price is $22.13.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $929.50 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The company’s revenue was down 9.6% on a year-over-year basis. Research analysts predict that RXO, Inc. will post 0.17 EPS for the current year.

RXO 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.