Hodges Capital Management Inc. Has $2.78 Million 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. reduced its stake in shares of Rxo Inc (NYSE:RXO - Free Report) by 39.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,500 shares of the company's stock after selling 95,900 shares during the quarter. Hodges Capital Management Inc. owned about 0.09% of RXO worth $2,779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of RXO by 52.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company's stock valued at $52,000 after purchasing an additional 945 shares in the last quarter. CWM LLC raised its stake in shares of RXO by 234.4% during the first quarter. CWM LLC now owns 1,876 shares of the company's stock valued at $36,000 after purchasing an additional 1,315 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of RXO by 25.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,797 shares of the company's stock valued at $130,000 after purchasing an additional 1,398 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of RXO during the first quarter valued at about $30,000. Finally, Larson Financial Group LLC raised its stake in shares of RXO by 1,990.2% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock valued at $33,000 after purchasing an additional 1,632 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RXO has been the topic of a number of recent analyst reports. Susquehanna set a $12.00 price objective on shares of RXO and gave the company a "neutral" rating in a research note on Tuesday, June 24th. UBS Group reiterated a "neutral" rating and issued a $15.00 price target (up from $14.00) on shares of RXO in a research report on Friday, August 8th. JPMorgan Chase & Co. dropped 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. Finally, Morgan Stanley dropped 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $16.92.

RXO Trading Down 0.3%

RXO traded down $0.06 during trading on Wednesday, reaching $17.42. The company had a trading volume of 344,421 shares, compared to its average volume of 1,656,742. The firm's 50-day simple moving average is $16.11 and its 200 day simple moving average is $16.10. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -8.07, a PEG ratio of 8.12 and a beta of 1.69. Rxo Inc has a 12-month low of $12.19 and a 12-month high of $31.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.35.

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