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 on Thursday, May 2nd. The stock was bought at an average price of $20.07 per share, with a total value of $2,108,654.55. Following the acquisition, the insider now owns 17,280,434 shares in the company, valued at $346,818,310.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more 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 Monday, May 6th, Mfn Partners, Lp bought 361 shares of RXO stock. The shares were purchased at an average cost of $20.40 per share, for a total transaction of $7,364.40.
• On Wednesday, April 24th, Mfn Partners, Lp purchased 100,000 shares of RXO stock. The shares were purchased at an average cost of $19.44 per share, for a total transaction of $1,944,000.00.
• On Monday, April 22nd, Mfn Partners, Lp acquired 11,449 shares of RXO stock. The stock was purchased at an average cost of $19.48 per share, with a total value of $223,026.52.
• On Thursday, April 18th, Mfn Partners, Lp bought 870,000 shares of RXO stock. The shares were acquired at an average cost of $19.52 per share, for a total transaction of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp purchased 35,985 shares of RXO stock. The stock was acquired at an average cost of $20.22 per share, with a total value of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp bought 5,139 shares of RXO stock. The stock was 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 purchased 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.

RXO Trading Down 1.3 %

Shares of RXO stock opened at $20.46 on Thursday. The firm has a market capitalization of $2.40 billion, a PE ratio of -227.33, a price-to-earnings-growth ratio of 7.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.14. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $24.33. The stock has a fifty day moving average of $20.56 and a two-hundred day moving average of $20.93.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on RXO shares. Susquehanna increased their price objective 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. Stephens reiterated an “equal weight” rating and issued a $22.00 price target on shares of RXO in a research note on Monday. Benchmark restated a “hold” rating on shares of RXO in a research note on Friday, April 19th. Oppenheimer decreased their target price on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 13th. Finally, TD Cowen boosted their target price on shares of RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.55.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RXO. Motley Fool Asset Management LLC boosted its stake in RXO by 287.9% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,582,324 shares of the company’s stock valued at $34,605,000 after purchasing an additional 1,174,361 shares in the last quarter. ProShare Advisors LLC boosted its stake in RXO by 7.1% during the first quarter. ProShare Advisors LLC now owns 24,251 shares of the company’s stock valued at $530,000 after buying an additional 1,612 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in RXO by 10.6% during the first quarter. Russell Investments Group Ltd. now owns 315,067 shares of the company’s stock worth $6,891,000 after acquiring an additional 30,198 shares during the period. Illinois Municipal Retirement Fund grew its holdings in RXO by 0.8% during the first quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock worth $1,513,000 after acquiring an additional 543 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in RXO by 24.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 24,962 shares of the company’s stock worth $546,000 after acquiring an additional 4,958 shares in the last quarter. Institutional investors and hedge funds 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.