New York State Common Retirement Fund Sells 44,729 Shares of Rxo Inc $RXO

New York State Common Retirement Fund lessened its stake in Rxo Inc (NYSE:RXO) by 6.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 609,030 shares of the company’s stock after selling 44,729 shares during the quarter. New York State Common Retirement Fund’s holdings in RXO were worth $9,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC bought a new stake in shares of RXO in the second quarter valued at $29,000. Geneos Wealth Management Inc. purchased a new stake in RXO in the 1st quarter worth about $30,000. CWM LLC raised its stake in RXO by 141.6% in the 3rd quarter. CWM LLC now owns 4,231 shares of the company’s stock valued at $65,000 after acquiring an additional 2,480 shares during the period. Nisa Investment Advisors LLC lifted its holdings in RXO by 34.1% during the second quarter. Nisa Investment Advisors LLC now owns 4,576 shares of the company’s stock valued at $72,000 after purchasing an additional 1,163 shares during the last quarter. Finally, Strs Ohio purchased a new stake in RXO during the first quarter valued at about $97,000. 92.73% of the stock is owned by institutional investors.

RXO Stock Performance

Shares of RXO opened at $15.94 on Wednesday. Rxo Inc has a 12-month low of $10.43 and a 12-month high of $25.50. 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 company has a market cap of $2.62 billion, a PE ratio of -37.06, a price-to-earnings-growth ratio of 7.57 and a beta of 1.74. The stock has a 50-day moving average price of $14.20 and a 200-day moving average price of $15.17.

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

Insider Buying and Selling at RXO

In other RXO news, Director Thomas A. Szlosek acquired 20,308 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $12.37 per share, for a total transaction of $251,209.96. Following the acquisition, the director owned 36,508 shares in the company, valued at $451,603.96. The trade was a 125.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Troy A. Cooper bought 8,317 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average price of $10.61 per share, for a total transaction of $88,243.37. Following the transaction, the director owned 275,416 shares in the company, valued at $2,922,163.76. This trade represents a 3.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 40,250 shares of company stock worth $488,875 over the last ninety days. Insiders own 1.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RXO. Citigroup dropped their price target on shares of RXO from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Morgan Stanley upgraded RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 target price on the stock in a research report on Tuesday, November 11th. Susquehanna lifted their price target on RXO from $10.00 to $11.00 and gave the company a “negative” rating in a research report on Thursday, January 8th. UBS Group decreased their price objective on RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, Truist Financial dropped their price objective on RXO from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.14.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.