RXO, Inc. (NYSE:RXO) Major Shareholder Purchases $16,982,400.00 in Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 870,000 shares of RXO stock in a transaction that occurred on Thursday, April 18th. The stock was acquired at an average cost of $19.52 per share, with a total value of $16,982,400.00. Following the completion of the purchase, the insider now owns 16,675,369 shares in the company, valued at approximately $325,503,202.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Tuesday, April 16th, Mfn Partners, Lp bought 35,985 shares of RXO stock. The stock was purchased at an average price of $20.22 per share, for a total transaction of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp purchased 5,139 shares of RXO stock. The shares were purchased at an average cost of $20.39 per share, with a total value of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp purchased 919,720 shares of RXO stock. The stock was purchased at an average cost of $21.04 per share, with a total value of $19,350,908.80.
• On Friday, February 2nd, Mfn Partners, Lp purchased 747,424 shares of RXO stock. The shares were acquired at an average price of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Price Performance

Shares of RXO stock traded up $0.44 during trading on Friday, hitting $19.37. 1,018,507 shares of the company’s stock traded hands, compared to its average volume of 652,626. The company has a market cap of $2.28 billion, a PE ratio of 484.37, a PEG ratio of 6.77 and a beta of 1.08. The firm’s fifty day moving average price is $20.95 and its 200 day moving average price is $20.85. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $24.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. RXO had a return on equity of 6.11% and a net margin of 0.10%. The company had revenue of $978.00 million for the quarter, compared to the consensus estimate of $996.33 million. During the same period in the previous year, the business earned $0.28 earnings per share. The company’s quarterly revenue was down 12.7% on a year-over-year basis. Analysts forecast that RXO, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of RXO

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in RXO by 16.3% in the second quarter. BlackRock Inc. now owns 18,527,587 shares of the company’s stock valued at $420,020,000 after buying an additional 2,595,713 shares in the last quarter. State Street Corp boosted its holdings in shares of RXO by 15.7% in the 2nd quarter. State Street Corp now owns 4,509,809 shares of the company’s stock worth $102,237,000 after acquiring an additional 610,359 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in shares of RXO by 2.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after acquiring an additional 66,757 shares in the last quarter. Dimensional Fund Advisors LP grew its position in RXO by 34.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,059,826 shares of the company’s stock worth $40,453,000 after acquiring an additional 532,311 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in RXO by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock valued at $38,773,000 after purchasing an additional 23,497 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

RXO has been the topic of several analyst reports. Stifel Nicolaus increased their price target on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. TD Cowen upped their price target on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a report on Friday, February 9th. Benchmark restated a “hold” rating on shares of RXO in a research note on Friday. Susquehanna increased their price target on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a report on Monday, March 25th. Finally, Vertical Research lowered shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.23.

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.