RXO, Inc. (NYSE:RXO) Major Shareholder Acquires $528,696.32 in Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp bought 26,648 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was bought at an average cost of $19.84 per share, with a total value of $528,696.32. Following the completion of the acquisition, the insider now owns 12,941,324 shares in the company, valued at approximately $256,755,868.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more 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, November 20th, Mfn Partners, Lp bought 43,678 shares of RXO stock. The stock was acquired at an average cost of $19.74 per share, for a total transaction of $862,203.72.
• On Wednesday, November 15th, Mfn Partners, Lp purchased 100,000 shares of RXO stock. The stock was purchased at an average cost of $19.67 per share, for a total transaction of $1,967,000.00.
• On Monday, November 13th, Mfn Partners, Lp purchased 30,522 shares of RXO stock. The stock was bought at an average price of $18.15 per share, with a total value of $553,974.30.

RXO Stock Performance

Shares of RXO stock traded down $0.12 during trading on Monday, hitting $19.85. 545,119 shares of the company’s stock were exchanged, compared to its average volume of 1,047,641. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.29 and a current ratio of 1.29. The business has a 50-day simple moving average of $18.68 and a 200-day simple moving average of $19.84. RXO, Inc. has a 52-week low of $15.67 and a 52-week high of $23.74. The stock has a market capitalization of $2.32 billion and a price-to-earnings ratio of -1,985.00.

RXO (NYSE:RXO) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $976.00 million during the quarter, compared to analysts’ expectations of $957.88 million. RXO had a negative net margin of 0.05% and a positive return on equity of 10.55%. RXO’s revenue was down 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 EPS. On average, research analysts forecast that RXO, Inc. will post 0.28 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on RXO. JPMorgan Chase & Co. downgraded RXO from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $17.00 to $16.00 in a research note on Wednesday, October 11th. Oppenheimer reaffirmed an “outperform” rating and set a $24.00 target price on shares of RXO in a report on Monday, August 7th. Stephens dropped their target price on shares of RXO from $23.00 to $19.00 and set an “equal weight” rating for the company in a research report on Thursday, August 3rd. Stifel Nicolaus dropped their target price on shares of RXO from $19.00 to $17.00 and set a “hold” rating for the company in a research report on Monday, October 16th. Finally, Susquehanna dropped their target price on shares of RXO from $14.00 to $13.00 and set a “negative” rating for the company in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.81.

Institutional Trading of RXO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kirr Marbach & Co. LLC IN lifted its stake in shares of RXO by 0.3% in the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 191,715 shares of the company’s stock valued at $3,783,000 after purchasing an additional 653 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in RXO by 16.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock valued at $121,000 after purchasing an additional 770 shares during the period. Rhumbline Advisers boosted its stake in RXO by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock valued at $6,981,000 after purchasing an additional 905 shares during the period. SG Americas Securities LLC grew its position in RXO by 5.7% in the 1st quarter. SG Americas Securities LLC now owns 17,916 shares of the company’s stock valued at $352,000 after buying an additional 968 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in RXO by 7.4% during the second quarter. LPL Financial LLC now owns 16,282 shares of the company’s stock worth $369,000 after buying an additional 1,123 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. The company also offers brokered services for managed transportation, last mile, and freight forwarding. RXO, Inc was founded in 2022 and is based in Charlotte, North Carolina.