Mfn Partners, Lp Purchases 105,065 Shares of RXO, Inc. (NYSE:RXO) Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 105,065 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $20.07 per share, with a total value of $2,108,654.55. Following the purchase, the insider now owns 17,280,434 shares in the company, valued at approximately $346,818,310.38. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 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 Wednesday, April 24th, Mfn Partners, Lp bought 100,000 shares of RXO stock. The stock was acquired at an average cost of $19.44 per share, with a total value of $1,944,000.00.
• On Monday, April 22nd, Mfn Partners, Lp purchased 11,449 shares of RXO stock. The shares were 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 acquired 870,000 shares of RXO stock. The stock was acquired at an average price of $19.52 per share, with a total value of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp bought 35,985 shares of RXO stock. The shares were 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 shares were bought 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 stock was bought at an average cost of $21.04 per share, for a total transaction of $19,350,908.80.

RXO Price Performance

RXO stock opened at $20.72 on Wednesday. The firm has a 50 day moving average of $20.57 and a 200-day moving average of $20.92. The firm has a market capitalization of $2.44 billion, a P/E ratio of -229.67, a price-to-earnings-growth ratio of 7.91 and a beta of 1.24. RXO, Inc. has a 12 month low of $16.94 and a 12 month high of $24.33. The company has a current ratio of 1.14, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXO) last announced its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $929.50 million. During the same period in the prior year, the company earned $0.11 EPS. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, sell-side analysts predict that RXO, Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RXO shares. Susquehanna raised their price target 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. Benchmark restated a “hold” rating on shares of RXO in a research note on Friday, April 19th. Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Vertical Research cut RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus increased their target price 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. Three equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.55.

Institutional Trading of RXO

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Douglas Lane & Associates LLC increased 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 valued at $57,871,000 after acquiring an additional 66,757 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of RXO by 1.2% during the 3rd 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 lifted its position in RXO by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock worth $43,489,000 after buying an additional 93,885 shares during 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 worth $42,415,000 after buying an additional 141,056 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in RXO by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock valued at $41,345,000 after acquiring an additional 138,365 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.