Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. RXO Inc shares valued at $1,758,623 were purchased by MFN Partners, LP on Apr 23 ’24. At $19.86 per share, MFN Partners, LP acquired 88,551 shares. The insider’s holdings grew to 16,975,369 shares worth approximately $327.96 million following the completion of this transaction.
Also, MFN Partners, LP purchased 11,449 shares, netting a total of over 223,027 in proceeds. Following the buying of shares at $19.48 each, the insider now holds 16,886,818 shares.
Before that, MFN Partners, LP had added 200,000 shares to its account. In a trade valued at $3,892,000, the 10% Owner bought RXO Inc shares for $19.46 each. Upon closing the transaction, the insider’s holdings increased to 200,000 shares, worth approximately $326.03 million.
As published in a research note from TD Cowen on February 09, 2024, RXO Inc [RXO] has been retained to a Market perform and the price target has been revised to $19.50. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of January 10, 2024, Vertical Research has decreased its “Buy” rating to a “Hold” for RXO. Earlier on October 11, 2023, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for RXO stock which previously was a “a Neutral”.
Analyzing RXO Stock Performance
During the last five days, there has been a surge of approximately 0.47%. Over the course of the year, RXO Inc shares have dropped approximately -16.94%. Shares of the company reached a 52-week high of $23.65 on 01/02/24 and a 52-week low of $18.83 on 04/19/24. A 50-day SMA is recorded $20.84, while a 200-day SMA reached $20.39. Nevertheless, trading volume fell to 0.61 million shares from 0.73 million shares the previous day.
Support And Resistance Levels for RXO Inc (RXO)
According to the 24-hour chart, there is a support level at 19.04, which, if violated, would cause prices to drop to 18.76. In the upper region, resistance lies at 19.72. The next price resistance is at 20.12. RSI (Relative Strength Index) is 40.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.88, which suggests the price will decrease in the coming days. Percent R is at 87.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
