RXO (NYSE:RXO) Shares Up 8.3% Following Insider Buying Activity

Rxo Inc (NYSE:RXO)’s stock price was up 8.3% during trading on Wednesday following insider buying activity. The stock 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 purchased 20,308 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of $12.37 per share, with a total value of $251,209.96. Following the purchase, the director owned 36,508 shares in the company, valued at approximately $451,603.96. This trade represents a 125.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew M. Wilkerson acquired 7,775 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was purchased at an average cost of $12.88 per share, with a total value of $100,142.00. Following the purchase, the chief executive officer owned 7,775 shares of the company’s stock, valued at $100,142. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In other RXO news, CEO Andrew M. Wilkerson bought 3,850 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 3,850 shares of the company’s stock, valued at approximately $49,280. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RXO. Zacks Research downgraded RXO from a “hold” rating to a “strong sell” rating in a report on Thursday, November 6th. Morgan Stanley upgraded RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 target price on the stock in a research note on Tuesday. Wall Street Zen lowered shares of RXO from a “hold” rating to a “sell” rating in a research note on Saturday. Susquehanna cut their price target on shares of RXO from $11.00 to $10.00 and set a “negative” rating on the stock in a report on Friday, November 7th. Finally, Truist Financial decreased their price objective on shares of RXO from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday, November 7th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.69.

RXO Price Performance

The firm has a market cap of $2.16 billion, a P/E ratio of -30.47, a PEG ratio of 18.21 and a beta of 1.67. 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 firm has a 50-day simple moving average of $16.53 and a 200-day simple moving average of $16.04.

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

Institutional Investors Weigh In On RXO

Institutional investors have recently bought and sold shares of the company. AlphaQuest LLC purchased a new stake in shares of RXO during the second quarter worth about $29,000. Geneos Wealth Management Inc. acquired a new stake in RXO in the 1st quarter worth approximately $30,000. Larson Financial Group LLC boosted its stake in RXO by 1,990.2% in the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,632 shares in the last quarter. CWM LLC grew its position in RXO by 234.4% during the 1st quarter. CWM LLC now owns 1,876 shares of the company’s stock worth $36,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in RXO by 27.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock valued at $49,000 after purchasing an additional 701 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.