Harel Insurance Investments & Financial Services Ltd. Sells 826 Shares of RXO, Inc. (NYSE:RXO)

Harel Insurance Investments & Financial Services Ltd. trimmed its position in shares of RXO, Inc. (NYSE:RXO) by 34.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,563 shares of the company’s stock after selling 826 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in RXO were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. purchased a new stake in shares of RXO in the 4th quarter worth $26,000. Allspring Global Investments Holdings LLC increased its stake in shares of RXO by 6,329.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after purchasing an additional 1,962 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of RXO in the 4th quarter worth $39,000. Ramirez Asset Management Inc. purchased a new stake in shares of RXO in the 3rd quarter worth $45,000. Finally, Resources Management Corp CT ADV increased its stake in shares of RXO by 7,985.7% in the 2nd quarter. Resources Management Corp CT ADV now owns 2,830 shares of the company’s stock worth $64,000 after purchasing an additional 2,795 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

RXO Stock Up 1.2 %

Shares of NYSE:RXO opened at $20.50 on Wednesday. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $24.33. The business has a 50 day simple moving average of $21.07 and a two-hundred day simple moving average of $20.87. The firm has a market capitalization of $2.41 billion, a PE ratio of 512.63, a price-to-earnings-growth ratio of 7.13 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17.

RXO (NYSE:RXO) last announced its earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. RXO had a return on equity of 6.11% and a net margin of 0.10%. The business had revenue of $978.00 million during the quarter, compared to analyst estimates of $996.33 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, equities analysts predict that RXO, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling at RXO

In related news, major shareholder Mfn Partners, Lp purchased 747,424 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was purchased at an average price of $20.25 per share, with a total value of $15,135,336.00. Following the completion of the purchase, the insider now owns 13,755,649 shares of the company’s stock, valued at approximately $278,551,892.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

RXO has been the subject of several analyst reports. Susquehanna upped their price objective on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research note on Monday, March 25th. Stifel Nicolaus increased their price target on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. TD Cowen increased their price target on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, February 9th. Bank of America lowered RXO from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Finally, Oppenheimer cut their price target on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, RXO presently has a consensus rating of “Hold” and an average target price of $20.23.

RXO Company Profile

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.