The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. RXO Inc shares valued at $1,244 were purchased by MFN Partners, LP on May 09 ’24. At $20.39 per share, MFN Partners, LP acquired 61 shares. The insider’s holdings grew to 17,310,856 shares worth approximately $463.76 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, MFN Partners, LP purchased 361 shares, netting a total of over 7,364 in proceeds. Following the buying of shares at $20.40 each, the insider now holds 17,310,795 shares.
Before that, MFN Partners, LP had added 30,000 shares to its account. In a trade valued at $609,900, the 10% Owner bought RXO Inc shares for $20.33 each. Upon closing the transaction, the insider’s holdings increased to 30,000 shares, worth approximately $463.75 million.
Analysts at TD Cowen resumed the stock at ‘”a Hold”‘ outlook in a report released in early May. As of February 09, 2024, TD Cowen has reiterated its “Market perform” rating for RXO. Earlier on February 08, 2024, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for RXO stock which previously was a “a Buy”.
Analyzing RXO Stock Performance
During the last five days, there has been a surge of approximately 6.23%. Over the course of the year, RXO Inc shares have jumped approximately 15.18%. Shares of the company reached a 52-week high of $28.13 on 07/01/24 and a 52-week low of $18.75 on 04/30/24. A 50-day SMA is recorded $21.17, while a 200-day SMA reached $20.78. Nevertheless, trading volume fell to 0.43 million shares from 1.85 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 26.44, which, if violated, would cause prices to drop to 26.08. In the upper region, resistance lies at 27.27. The next price resistance is at 27.74. RSI (Relative Strength Index) is 78.84 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.49, which suggests the price will increase in the coming days. Percent R is at 16.11%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
