Mfn Partners, Lp Purchases 747,424 Shares of RXO, Inc. (NYSE:RXO) Stock

RXO, Inc. (NYSE:RXOGet Free Report) major shareholder Mfn Partners, Lp acquired 747,424 shares of RXO stock in a transaction dated Friday, February 2nd. The shares were bought at an average cost of $20.25 per share, with a total value of $15,135,336.00. Following the completion of the purchase, the insider now owns 13,755,649 shares in the company, valued at $278,551,892.25. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 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, November 20th, Mfn Partners, Lp bought 43,678 shares of RXO stock. The shares were bought at an average cost of $19.74 per share, with a total value of $862,203.72.
  • On Friday, November 17th, Mfn Partners, Lp purchased 26,648 shares of RXO stock. The stock was bought at an average cost of $19.84 per share, for a total transaction of $528,696.32.
  • On Wednesday, November 15th, Mfn Partners, Lp acquired 100,000 shares of RXO stock. The shares were purchased at an average cost of $19.67 per share, with a total value of $1,967,000.00.
  • On Monday, November 13th, Mfn Partners, Lp bought 30,522 shares of RXO stock. The stock was purchased at an average cost of $18.15 per share, for a total transaction of $553,974.30.

RXO Price Performance

Shares of RXO stock opened at $21.78 on Wednesday. The stock has a 50-day simple moving average of $22.31 and a 200-day simple moving average of $20.22. RXO, Inc. has a 52-week low of $16.94 and a 52-week high of $24.33. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.76.

RXO (NYSE:RXOGet Free Report) last posted its earnings results on Tuesday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm 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%. The company’s revenue was down 14.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. On average, research analysts anticipate that RXO, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on RXO shares. 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 note on Wednesday, January 10th. Stifel Nicolaus raised their target price on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. downgraded RXO from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $17.00 to $16.00 in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.69.

View Our Latest Stock Report on RXO

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its position in shares of RXO by 65.6% in the third quarter. Nisa Investment Advisors LLC now owns 6,863 shares of the company’s stock valued at $135,000 after purchasing an additional 2,718 shares during the period. Strs Ohio acquired a new position in RXO during the 2nd quarter worth $1,058,000. Arizona State Retirement System boosted its holdings in RXO by 9.3% during the second quarter. Arizona State Retirement System now owns 32,822 shares of the company’s stock valued at $744,000 after acquiring an additional 2,803 shares during the period. Geode Capital Management LLC grew its position in shares of RXO by 39.5% in the second quarter. Geode Capital Management LLC now owns 2,241,295 shares of the company’s stock valued at $50,810,000 after purchasing an additional 635,109 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of RXO in the second quarter worth about $1,181,000. Institutional investors own 92.73% of the company’s stock.

RXO Company Profile

(Get Free Report)

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.

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