Mfn Partners, Lp Purchases 35,985 Shares of RXO, Inc. (NYSE:RXO) Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 35,985 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were purchased at an average price of $20.22 per share, with a total value of $727,616.70. Following the completion of the transaction, the insider now owns 15,629,679 shares of the company’s stock, valued at approximately $316,032,109.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, April 12th, Mfn Partners, Lp acquired 5,139 shares of RXO stock. The shares were 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 acquired 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 acquired 747,424 shares of RXO stock. The shares were purchased at an average price of $20.25 per share, with a total value of $15,135,336.00.

RXO Trading Down 1.6 %

NYSE RXO opened at $18.93 on Friday. The firm has a 50 day simple moving average of $20.97 and a 200-day simple moving average of $20.85. 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, Inc. has a one year low of $16.94 and a one year high of $24.33. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 473.37, a PEG ratio of 7.21 and a beta of 1.08.

RXO (NYSE:RXO) last posted 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. RXO had a net margin of 0.10% and a return on equity of 6.11%. The business had revenue of $978.00 million during the quarter, compared to analyst estimates of $996.33 million. During the same quarter last year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. Equities research analysts anticipate that RXO, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in RXO by 16.3% in the second quarter. BlackRock Inc. now owns 18,527,587 shares of the company’s stock worth $420,020,000 after acquiring an additional 2,595,713 shares during the last quarter. State Street Corp lifted its stake in RXO by 15.7% in the second quarter. State Street Corp now owns 4,509,809 shares of the company’s stock worth $102,237,000 after acquiring an additional 610,359 shares during the last quarter. Douglas Lane & Associates LLC lifted its stake in 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. Dimensional Fund Advisors LP lifted its stake in RXO by 34.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,059,826 shares of the company’s stock worth $40,453,000 after acquiring an additional 532,311 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in RXO by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock worth $38,773,000 after acquiring an additional 23,497 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RXO. Stifel Nicolaus raised their price objective on shares of RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Bank of America lowered shares of RXO from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Susquehanna increased their target price on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research note on Monday, March 25th. TD Cowen increased their target price on shares of RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, February 9th. Finally, Oppenheimer lowered 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 analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.