Insider Buying: RXO, Inc. (NYSE:RXO) Major Shareholder Acquires 105,065 Shares of Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 105,065 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $20.07 per share, for a total transaction of $2,108,654.55. Following the acquisition, the insider now owns 17,280,434 shares of the company’s stock, valued at $346,818,310.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, April 24th, Mfn Partners, Lp purchased 100,000 shares of RXO stock. The stock was purchased at an average price of $19.44 per share, for a total transaction of $1,944,000.00.
• On Monday, April 22nd, Mfn Partners, Lp bought 11,449 shares of RXO stock. The shares were bought at an average price of $19.48 per share, for a total transaction of $223,026.52.
• On Thursday, April 18th, Mfn Partners, Lp bought 870,000 shares of RXO stock. The shares were bought 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 shares were bought at an average price of $20.22 per share, for a total transaction of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp purchased 5,139 shares of RXO stock. The shares were acquired at an average cost of $20.39 per share, for a total transaction of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp bought 919,720 shares of RXO stock. The stock was purchased at an average cost of $21.04 per share, for a total transaction of $19,350,908.80.

RXO Trading Up 0.6 %

Shares of RXO stock traded up $0.13 during trading hours on Monday, reaching $20.54. The company’s stock had a trading volume of 508,894 shares, compared to its average volume of 658,067. The stock has a market capitalization of $2.41 billion, a P/E ratio of -228.44, a P/E/G ratio of 7.91 and a beta of 1.24. RXO, Inc. has a one year low of $16.94 and a one year high of $24.33. The firm’s fifty day simple moving average is $20.58 and its 200 day simple moving average is $20.91. The company has a current ratio of 1.14, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXO) last released its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. Equities research analysts expect that RXO, Inc. will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Douglas Lane & Associates LLC raised its stake in shares of RXO by 10.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company’s stock worth $59,997,000 after purchasing an additional 248,883 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of RXO by 65.6% in the third quarter. Nisa Investment Advisors LLC now owns 6,863 shares of the company’s stock worth $135,000 after purchasing an additional 2,718 shares during the last quarter. Barclays PLC raised its stake in shares of RXO by 299.9% in the third quarter. Barclays PLC now owns 270,766 shares of the company’s stock worth $5,343,000 after purchasing an additional 203,052 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of RXO by 325.2% in the third quarter. GSA Capital Partners LLP now owns 55,077 shares of the company’s stock worth $1,087,000 after acquiring an additional 42,123 shares during the period. Finally, Motley Fool Asset Management LLC grew its holdings in shares of RXO by 151.5% in the third quarter. Motley Fool Asset Management LLC now owns 403,658 shares of the company’s stock worth $7,964,000 after acquiring an additional 243,137 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

RXO has been the subject of a number of analyst reports. Vertical Research downgraded RXO from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research note on Wednesday, January 10th. TD Cowen boosted their price target on RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday. Bank of America cut RXO from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $22.00 in a report on Thursday, February 8th. Susquehanna boosted their price target on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a report on Monday, March 25th. Finally, Stephens reissued an “equal weight” rating and set a $22.00 price target on shares of RXO in a report on Monday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.55.

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.