RXO, Inc. (NYSE:RXO) Major Shareholder Mfn Partners, Lp Acquires 11,449 Shares

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 11,449 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were acquired at an average cost of $19.48 per share, for a total transaction of $223,026.52. Following the completion of the acquisition, the insider now owns 16,886,818 shares of the company’s stock, valued at $328,955,214.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% 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 Thursday, April 18th, Mfn Partners, Lp bought 870,000 shares of RXO stock. The shares were bought at an average price of $19.52 per share, for a total transaction of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp acquired 35,985 shares of RXO stock. The shares were bought at an average cost of $20.22 per share, for a total transaction of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp bought 5,139 shares of RXO stock. The shares were bought 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 shares were purchased at an average price 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 stock was acquired at an average cost of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Stock Down 3.0 %

RXO traded down $0.59 on Wednesday, hitting $19.32. The company had a trading volume of 614,032 shares, compared to its average volume of 651,984. The stock has a fifty day simple moving average of $20.89 and a 200-day simple moving average of $20.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $2.27 billion, a P/E ratio of 483.12, a P/E/G ratio of 6.86 and a beta of 1.08. RXO, Inc. has a 52-week low of $16.94 and a 52-week high of $24.33.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $978.00 million during the quarter, compared to analyst estimates of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. As a group, equities analysts expect that RXO, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RXO shares. Susquehanna raised their target price 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. Vertical Research cut RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a report on Wednesday, January 10th. TD Cowen lifted their price objective on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a report on Friday, February 9th. Bank of America lowered RXO from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. Finally, Stifel Nicolaus increased their price target on shares of RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and a consensus target price of $20.23.

Institutional Investors Weigh In On RXO

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of RXO by 2,235.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after purchasing an additional 3,487 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in RXO during the first quarter valued at $2,283,000. Douglas Lane & Associates LLC grew its stake in shares of RXO by 2.6% in the first 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 during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of RXO by 62.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock valued at $121,000 after acquiring an additional 1,987 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of RXO by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock valued at $41,345,000 after acquiring an additional 138,365 shares in the last quarter. Institutional investors 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.