Hodges Capital Management Inc. Decreases Stock Holdings in Rxo Inc $RXO

Key Points

• Hodges Capital Management Inc. has reduced its stake in RXO Inc by 39.7%, now owning approximately 145,500 shares valued at about $2.78 million.
• Other institutional investors have shown varying activity, with Rhumbline Advisers increasing their position by 1.1% and Intech Investment Management LLC boosting theirs by 87.1%.
• Analysts have mixed views on RXO, with the stock rated as "Hold" on average, and price targets ranging from $14.00 to $21.00.

Hodges Capital Management Inc. decreased its position in Rxo Inc (NYSE:RXO - Free Report) by 39.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,500 shares of the company's stock after selling 95,900 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.09% of RXO worth $2,779,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers increased its position in shares of RXO by 1.1% during the first quarter. Rhumbline Advisers now owns 413,204 shares of the company's stock valued at $7,892,000 after buying an additional 4,337 shares during the period. Strs Ohio purchased a new position in shares of RXO during the first quarter valued at about $97,000. Geneos Wealth Management Inc. purchased a new position in shares of RXO during the first quarter valued at about $30,000. Intech Investment Management LLC increased its position in shares of RXO by 87.1% during the first quarter. Intech Investment Management LLC now owns 94,527 shares of the company's stock valued at $1,805,000 after buying an additional 44,001 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of RXO by 21.4% during the first quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company's stock valued at $40,202,000 after buying an additional 371,511 shares during the period. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of RXO from $15.00 to $14.00 and set an "underweight" rating on the stock in a research report on Tuesday, July 8th. Cowen reiterated a "hold" rating on shares of RXO in a research report on Friday, August 8th. UBS Group reiterated a "neutral" rating and set a $15.00 price target (up previously from $14.00) on shares of RXO in a research report on Friday, August 8th. Bank of America boosted their price target on shares of RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Morgan Stanley reduced their price target on shares of RXO from $23.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $17.93.

RXO Trading Up 2.6%

NYSE:RXO opened at $17.16 on Friday. Rxo Inc has a one year low of $12.19 and a one year high of $31.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. The company's 50-day simple moving average is $16.10 and its 200 day simple moving average is $16.19. The firm has a market capitalization of $2.81 billion, a P/E ratio of -7.94, a PEG ratio of 7.98 and a beta of 1.69.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm posted $0.03 earnings per share. RXO's quarterly revenue was up 52.6% on a year-over-year basis. As a group, analysts forecast that Rxo Inc will post 0.31 EPS 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.

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