Insider Buying: RXO, Inc. (NYSE:RXO) Major Shareholder Purchases $223,026.52 in Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp bought 11,449 shares of the stock in a transaction on Monday, April 22nd. The shares were bought at an average price of $19.48 per share, with a total value of $223,026.52. Following the acquisition, the insider now owns 16,886,818 shares of the company’s stock, valued at $328,955,214.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mfn Partners, Lp also recently made the following trade(s):

• On Wednesday, April 24th, Mfn Partners, Lp bought 100,000 shares of RXO stock. The shares were bought at an average price of $19.44 per share, with a total value of $1,944,000.00.
• On Thursday, April 18th, Mfn Partners, Lp purchased 870,000 shares of RXO stock. The shares were acquired at an average price of $19.52 per share, for a total transaction of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp bought 35,985 shares of RXO stock. The stock was purchased at an average price of $20.22 per share, for a total transaction of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp bought 5,139 shares of RXO stock. The stock was purchased at an average price of $20.39 per share, for a total transaction of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp purchased 919,720 shares of RXO stock. The stock was bought at an average cost of $21.04 per share, with a total value of $19,350,908.80.
• On Friday, February 2nd, Mfn Partners, Lp purchased 747,424 shares of RXO stock. The stock was bought at an average cost of $20.25 per share, with a total value of $15,135,336.00.

RXO Stock Down 2.3 %

NYSE RXO opened at $19.36 on Friday. The business has a fifty day moving average price of $20.77 and a 200 day moving average price of $20.87. RXO, Inc. has a one year low of $16.94 and a one year high of $24.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $2.28 billion, a P/E ratio of 484.12, a P/E/G ratio of 6.80 and a beta of 1.08.

RXO (NYSE:RXO) last issued 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. The company had revenue of $978.00 million during the quarter, compared to analysts’ expectations of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. Research analysts anticipate that RXO, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of RXO

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in RXO during the fourth quarter worth about $24,250,000. Jacobs Levy Equity Management Inc. increased its stake in RXO by 290.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company’s stock worth $17,142,000 after purchasing an additional 646,540 shares during the period. Intrinsic Edge Capital Management LLC increased its stake in RXO by 325.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 797,542 shares of the company’s stock worth $18,551,000 after purchasing an additional 610,166 shares during the period. 683 Capital Management LLC grew its position in shares of RXO by 154.9% during the third quarter. 683 Capital Management LLC now owns 650,000 shares of the company’s stock worth $12,824,000 after buying an additional 395,000 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its position in shares of RXO by 10.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company’s stock worth $59,997,000 after buying an additional 248,883 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RXO has been the subject of a number of analyst reports. Benchmark reissued a “hold” rating on shares of RXO in a report on Friday, April 19th. Vertical Research downgraded RXO from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Wednesday, January 10th. Susquehanna upped their target price on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research note on Monday, March 25th. TD Cowen upped their target price on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, February 9th. Finally, Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus price target 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.