RXO (NYSE:RXO) Trading Up 8.3% on Insider Buying Activity

Rxo Inc (NYSE:RXO) rose 8.3% during trading on Wednesday following insider buying activity. The company traded as high as $13.33 and last traded at $13.1850. Approximately 1,107,294 shares traded hands during trading, a decline of 37% from the average daily volume of 1,743,786 shares. The stock had previously closed at $12.18.

Specifically, Director Thomas A. Szlosek acquired 20,308 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $12.37 per share, with a total value of $251,209.96. Following the completion of the purchase, the director directly owned 36,508 shares in the company, valued at $451,603.96. The trade was a 125.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew M. Wilkerson bought 7,775 shares of the business’s stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $12.88 per share, for a total transaction of $100,142.00. Following the transaction, the chief executive officer directly owned 7,775 shares in the company, valued at approximately $100,142. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In other RXO news, CEO Andrew M. Wilkerson purchased 3,850 shares of RXO stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $12.80 per share, for a total transaction of $49,280.00. Following the acquisition, the chief executive officer owned 3,850 shares in the company, valued at $49,280. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Wednesday, October 22nd. The Goldman Sachs Group dropped their target price on RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Truist Financial cut their target price on RXO from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Barclays reduced their target price on shares of RXO from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Finally, Morgan Stanley upgraded shares of RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 price target on the stock in a report on Tuesday. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, RXO currently has a consensus rating of “Hold” and an average target price of $16.69.

RXO Stock Performance

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.03 billion, a PE ratio of -28.78, a P/E/G ratio of 19.26 and a beta of 1.67. The firm’s 50-day simple moving average is $16.46 and its two-hundred day simple moving average is $16.01.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, research analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of RXO

Large investors have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd raised its stake in shares of RXO by 3.8% in the second quarter. Orbis Allan Gray Ltd now owns 31,375,221 shares of the company’s stock worth $493,218,000 after purchasing an additional 1,142,710 shares during the last quarter. Vanguard Group Inc. increased its holdings in RXO by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 17,216,681 shares of the company’s stock worth $264,793,000 after buying an additional 233,434 shares during the period. Wellington Management Group LLP increased its holdings in RXO by 374.1% in the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock worth $176,855,000 after buying an additional 7,306,537 shares during the period. State Street Corp raised its position in RXO by 1.5% during the 2nd quarter. State Street Corp now owns 5,821,207 shares of the company’s stock worth $91,509,000 after buying an additional 85,405 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in RXO by 3.4% during the 3rd quarter. Douglas Lane & Associates LLC now owns 3,866,005 shares of the company’s stock valued at $59,459,000 after acquiring an additional 126,227 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.