Intech Investment Management LLC Sells 30,470 Shares of Rxo Inc $RXO

Intech Investment Management LLC decreased its position in shares of Rxo Inc (NYSE:RXO) by 32.2% during the second quarter, HoldingsChannel reports. The firm owned 64,057 shares of the company’s stock after selling 30,470 shares during the period. Intech Investment Management LLC’s holdings in RXO were worth $1,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of RXO by 374.1% during the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock valued at $176,855,000 after purchasing an additional 7,306,537 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in RXO by 4.1% in the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock worth $58,789,000 after buying an additional 148,738 shares in the last quarter. Geode Capital Management LLC grew its position in RXO by 4.0% during the second quarter. Geode Capital Management LLC now owns 3,611,478 shares of the company’s stock valued at $56,780,000 after acquiring an additional 139,999 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of RXO during the first quarter worth approximately $56,693,000. Finally, Fred Alger Management LLC lifted its holdings in shares of RXO by 21.4% in the 1st quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock worth $40,202,000 after acquiring an additional 371,511 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RXO

In related news, CEO Andrew M. Wilkerson acquired 7,775 shares of RXO stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $12.88 per share, with a total value of $100,142.00. Following the transaction, the chief executive officer owned 7,775 shares in the company, valued at $100,142. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Troy A. Cooper bought 8,317 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was bought at an average cost of $10.61 per share, with a total value of $88,243.37. Following the completion of the transaction, the director owned 275,416 shares in the company, valued at approximately $2,922,163.76. This trade represents a 3.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 40,250 shares of company stock worth $488,875 over the last quarter. 1.48% of the stock is owned by corporate insiders.

RXO Stock Performance

RXO stock opened at $12.13 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.99 billion, a P/E ratio of -28.21 and a beta of 1.66. Rxo Inc has a 1-year low of $10.43 and a 1-year high of $31.11. The firm has a 50-day moving average of $15.53 and a 200-day moving average of $15.86.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. Sell-side analysts expect that Rxo Inc will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

RXO has been the topic of several recent research reports. UBS Group reduced their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Zacks Research cut RXO from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of RXO in a report on Monday, November 17th. Wolfe Research upgraded RXO from an “underperform” rating to a “peer perform” rating in a report on Friday, November 14th. Finally, Stifel Nicolaus lifted their price target on RXO from $14.00 to $17.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.69.

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.