RXO, Inc. (NYSE:RXO) Major Shareholder Mfn Partners, Lp Buys 100,000 Shares

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 100,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was acquired at an average price of $19.44 per share, with a total value of $1,944,000.00. Following the acquisition, the insider now owns 17,075,369 shares in the company, valued at approximately $331,945,173.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mfn Partners, Lp also recently made the following trade(s):

• On Monday, April 22nd, Mfn Partners, Lp acquired 11,449 shares of RXO stock. The stock was acquired at an average price of $19.48 per share, with a total value of $223,026.52.
• On Thursday, April 18th, Mfn Partners, Lp bought 870,000 shares of RXO stock. The stock was purchased at an average cost of $19.52 per share, with a total value of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp purchased 35,985 shares of RXO stock. The shares were 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 acquired 5,139 shares of RXO stock. The stock was purchased at an average price of $20.39 per share, with a total value of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp bought 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 purchased 747,424 shares of RXO stock. The stock was acquired at an average price of $20.25 per share, with a total value of $15,135,336.00.

RXO Price Performance

Shares of RXO opened at $19.36 on Friday. The company has a market capitalization of $2.28 billion, a P/E ratio of 484.12, a price-to-earnings-growth ratio of 6.98 and a beta of 1.08. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $20.77 and a 200 day moving average of $20.87. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $24.33.

RXO (NYSE:RXO) last announced its quarterly earnings results 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 company had revenue of $978.00 million during the quarter, compared to the consensus estimate of $996.33 million. RXO had a net margin of 0.10% and a return on equity of 6.11%. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. As a group, equities research analysts anticipate that RXO, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

A number of large investors have recently added to or reduced their stakes in RXO. GAMMA Investing LLC bought a new stake in RXO in the 4th quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its position in RXO by 6,329.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after purchasing an additional 1,962 shares during the period. Ramirez Asset Management Inc. bought a new stake in RXO in the 3rd quarter worth approximately $45,000. TFO Wealth Partners LLC grew its position in RXO by 106,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after purchasing an additional 3,205 shares during the period. Finally, International Assets Investment Management LLC grew its position in RXO by 2,008.5% in the 4th quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock worth $121,000 after purchasing an additional 4,941 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RXO shares. Benchmark restated a “hold” rating on shares of RXO in a report on Friday, April 19th. Bank of America downgraded shares of RXO from a “buy” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. Vertical Research downgraded shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research note on Wednesday, January 10th. TD Cowen raised their target price on shares of RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research note on Friday, February 9th. Finally, Oppenheimer decreased their target price on shares of RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.