Insider Buying: RXO, Inc. (NYSE:RXO) Major Shareholder Buys 5,139 Shares of Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 5,139 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were bought at an average price of $20.39 per share, for a total transaction of $104,784.21. Following the acquisition, the insider now owns 15,593,694 shares in the company, valued at approximately $317,955,420.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, April 16th, Mfn Partners, Lp acquired 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 Thursday, February 8th, Mfn Partners, Lp bought 919,720 shares of RXO stock. The stock was acquired at an average cost of $21.04 per share, for a total transaction of $19,350,908.80.
• On Friday, February 2nd, Mfn Partners, Lp bought 747,424 shares of RXO stock. The stock was acquired at an average cost of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Price Performance

RXO stock traded down $1.27 during trading hours on Wednesday, hitting $19.23. 876,949 shares of the stock were exchanged, compared to its average volume of 633,251. 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 stock has a market capitalization of $2.26 billion, a P/E ratio of 512.63, a P/E/G ratio of 7.13 and a beta of 1.08. RXO, Inc. has a 12 month low of $16.94 and a 12 month high of $24.33. The business’s 50-day moving average is $21.07 and its two-hundred day moving average is $20.87.

RXO (NYSE:RXO) last announced its earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. RXO had a net margin of 0.10% and a return on equity of 6.11%. The company had revenue of $978.00 million for the quarter, compared to analyst estimates of $996.33 million. During the same period in the prior year, the business earned $0.28 earnings per share. RXO’s quarterly revenue was down 12.7% on a year-over-year basis. Equities research analysts expect that RXO, Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RXO shares. TD Cowen upped their target price on shares of RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research note on Friday, February 9th. Bank of America cut shares of RXO from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. Stifel Nicolaus upped their target price on shares of RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Susquehanna upped their target price on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research note on Monday, March 25th. Finally, Vertical Research cut shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.