RXO, Inc. (NYSE:RXO) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its stake in shares of RXO, Inc. (NYSE:RXO - Free Report) by 27.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 391,434 shares of the company's stock after selling 144,670 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.24% of RXO worth $9,332,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of RXO by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock worth $410,137,000 after buying an additional 2,009,937 shares in the last quarter. Norges Bank purchased a new stake in shares of RXO during the fourth quarter worth $28,342,000. Franklin Resources Inc. grew its holdings in shares of RXO by 122.6% during the fourth quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock worth $39,971,000 after buying an additional 923,307 shares in the last quarter. FIL Ltd grew its holdings in shares of RXO by 10.4% during the fourth quarter. FIL Ltd now owns 6,327,889 shares of the company's stock worth $150,857,000 after buying an additional 596,158 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of RXO by 185.5% during the third quarter. Barclays PLC now owns 908,873 shares of the company's stock worth $25,449,000 after buying an additional 590,530 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RXO. Deutsche Bank Aktiengesellschaft began coverage on shares of RXO in a report on Friday, March 7th. They set a "hold" rating and a $19.00 target price for the company. UBS Group dropped their target price on shares of RXO from $24.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Truist Financial dropped their price objective on shares of RXO from $24.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Morgan Stanley dropped their price objective on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their price objective on shares of RXO from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $19.80.

RXO Trading Up 1.1%

RXO stock traded up $0.19 during mid-day trading on Friday, hitting $17.26. 1,657,283 shares of the company were exchanged, compared to its average volume of 1,234,180. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.83 billion, a P/E ratio of -8.14, a PEG ratio of 4.55 and a beta of 1.71. The business has a fifty day simple moving average of $15.74 and a 200-day simple moving average of $21.91. RXO, Inc. has a 12-month low of $12.19 and a 12-month high of $32.82.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.51 billion. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. The company's quarterly revenue was up 57.0% compared to the same quarter last year. During the same period last year, the business earned ($0.03) EPS. On average, equities research analysts predict that RXO, Inc. will post 0.31 earnings per share 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.