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 business’s stock in a transaction dated Wednesday, April 24th. The stock was bought at an average cost 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 purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, April 22nd, Mfn Partners, Lp purchased 11,449 shares of RXO stock. The stock was acquired at an average price of $19.48 per share, for a total transaction of $223,026.52.
• On Thursday, April 18th, Mfn Partners, Lp purchased 870,000 shares of RXO stock. The stock was acquired 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 purchased 35,985 shares of RXO stock. The stock was 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 purchased 5,139 shares of RXO stock. The stock was 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 purchased 919,720 shares of RXO stock. The stock was 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, for a total transaction of $15,135,336.00.

RXO Stock Performance

RXO opened at $19.36 on Friday. The firm has a market cap 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. RXO, Inc. has a 52-week low of $16.94 and a 52-week high of $24.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The business’s fifty day moving average is $20.77 and its 200-day moving average is $20.87.

RXO (NYSE:RXO) last released its earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $978.00 million for 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%. RXO’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. Sell-side analysts expect that RXO, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Vertical Research cut RXO from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research note on Wednesday, January 10th. Susquehanna increased their price target on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research note on Monday, March 25th. Oppenheimer lowered their price objective on RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 13th. TD Cowen increased their price objective on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, February 9th. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a research report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.23.

Institutional Trading of RXO

Several large investors have recently modified their holdings of the stock. Douglas Lane & Associates LLC grew its holdings in shares of RXO by 2.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after purchasing an additional 66,757 shares in the last quarter. Massachusetts Financial Services Co. MA boosted 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 valued at $38,773,000 after buying an additional 23,497 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in RXO by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock valued at $43,489,000 after buying an additional 93,885 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in RXO by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,519 shares of the company’s stock valued at $42,415,000 after buying an additional 141,056 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in RXO by 8.4% in the fourth quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock valued at $41,345,000 after buying an additional 138,365 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

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.