Mfn Partners, Lp Purchases 11,449 Shares of RXO, Inc. (NYSE:RXO) Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp bought 11,449 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average price 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 in the company, valued at approximately $328,955,214.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 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 Wednesday, April 24th, Mfn Partners, Lp bought 100,000 shares of RXO stock. The shares were bought at an average price of $19.44 per share, for a total transaction of $1,944,000.00.
• 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 acquired at an average price of $20.22 per share, for a total transaction of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp acquired 5,139 shares of RXO stock. The shares were acquired at an average price of $20.39 per share, for a total transaction of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp acquired 919,720 shares of RXO stock. The shares were acquired at an average price of $21.04 per share, for a total transaction of $19,350,908.80.
• On Friday, February 2nd, Mfn Partners, Lp acquired 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 Trading Down 2.3 %

NYSE:RXO opened at $19.36 on Friday. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $24.33. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 484.12, a PEG ratio of 6.80 and a beta of 1.08. The business has a fifty day moving average of $20.77 and a 200-day moving average of $20.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share 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 was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Equities analysts predict that RXO, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of RXO

Several institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of RXO by 2,235.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after buying an additional 3,487 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of RXO in the first quarter valued at $2,283,000. Douglas Lane & Associates LLC lifted its holdings in shares of RXO by 2.6% during the first quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock valued at $57,871,000 after purchasing an additional 66,757 shares during the last quarter. PNC Financial Services Group Inc. lifted 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 purchasing an additional 1,987 shares during the last quarter. Finally, Wellington Management Group LLP lifted 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 purchasing an additional 138,365 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on RXO. Stifel Nicolaus lifted their price objective on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $22.00 in a report on Thursday, February 8th. Vertical Research downgraded RXO from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Wednesday, January 10th. Oppenheimer lowered their price target on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 13th. Finally, TD Cowen boosted their price target on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a report on Friday, February 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, RXO presently has an average rating of “Hold” and a consensus price target of $20.23.

RXO Company Profile

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.