Insider Buying: RXO, Inc. (NYSE:RXO) Major Shareholder Buys 11,449 Shares of Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 11,449 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were bought at an average cost of $19.48 per share, with a total value of $223,026.52. Following the purchase, the insider now owns 16,886,818 shares of the company’s stock, valued at approximately $328,955,214.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 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 Thursday, April 18th, Mfn Partners, Lp acquired 870,000 shares of RXO stock. The shares were bought at an average cost of $19.52 per share, with a total value of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp acquired 35,985 shares of RXO stock. The shares were bought at an average cost of $20.22 per share, with a total value of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp acquired 5,139 shares of RXO stock. The shares were bought at an average cost 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 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 acquired at an average cost of $20.25 per share, with a total value of $15,135,336.00.

RXO Price Performance

Shares of NYSE:RXO opened at $19.82 on Friday. RXO, Inc. has a 1-year low of $16.94 and a 1-year high of $24.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The business has a fifty day moving average price of $20.81 and a 200-day moving average price of $20.87. The company has a market capitalization of $2.33 billion, a PE ratio of 495.62, a PEG ratio of 7.01 and a beta of 1.08.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.06 earnings per share 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 firm had revenue of $978.00 million during the quarter, compared to the consensus estimate of $996.33 million. During the same period last year, the company earned $0.28 earnings per share. The company’s revenue was down 12.7% on a year-over-year basis. As a group, equities analysts expect that RXO, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Several institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of RXO by 1.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock valued at $1,231,000 after buying an additional 820 shares during the last quarter. Rhumbline Advisers boosted its position in shares of RXO by 0.3% during the third quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock valued at $6,981,000 after buying an additional 905 shares during the last quarter. Hohimer Wealth Management LLC boosted its position in shares of RXO by 2.4% during the fourth quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock valued at $1,079,000 after buying an additional 1,109 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of RXO during the fourth quarter valued at $27,000. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of RXO by 9.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 20,788 shares of the company’s stock valued at $410,000 after buying an additional 1,855 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RXO has been the subject of a number of research analyst reports. Susquehanna raised their price target 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 raised 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. Vertical Research lowered 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 raised 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. Finally, Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.23.

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.