Insider Buying: RXO, Inc. (NYSE:RXO) Major Shareholder Buys $727,616.70 in Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 35,985 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were purchased at an average cost of $20.22 per share, with a total value of $727,616.70. Following the completion of the purchase, the insider now owns 15,629,679 shares in the company, valued at approximately $316,032,109.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, April 18th, Mfn Partners, Lp acquired 870,000 shares of RXO stock. The shares were bought at an average price of $19.52 per share, with a total value of $16,982,400.00.
• On Friday, April 12th, Mfn Partners, Lp acquired 5,139 shares of RXO stock. The shares were bought at an average price of $20.39 per share, with a total value of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp acquired 919,720 shares of RXO stock. The shares were bought at an average price of $21.04 per share, with a total value of $19,350,908.80.
• On Friday, February 2nd, Mfn Partners, Lp acquired 747,424 shares of RXO stock. The shares were bought at an average price of $20.25 per share, with a total value of $15,135,336.00.

RXO Price Performance

Shares of NYSE:RXO opened at $19.37 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $24.33. The business has a fifty day simple moving average of $20.95 and a 200 day simple moving average of $20.85. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 484.37, a P/E/G ratio of 6.77 and a beta of 1.08.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $0.28 earnings per share. RXO’s quarterly revenue was down 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that RXO, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Vertical Research downgraded RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Wednesday, January 10th. Bank of America lowered RXO from a “buy” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $22.00 in a report on Thursday, February 8th. TD Cowen increased their target price on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a report on Friday, February 9th. Finally, Oppenheimer reduced their target price on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.23.

Institutional Trading of RXO

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in RXO during the fourth quarter worth $27,000. Bessemer Group Inc. acquired a new position in RXO during the fourth quarter worth $26,000. Allspring Global Investments Holdings LLC increased its position in RXO by 6,329.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after buying an additional 1,962 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in RXO during the fourth quarter worth $39,000. Finally, Ramirez Asset Management Inc. acquired a new position in RXO during the third quarter worth $45,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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.