RXO, Inc. (NYSE:RXO) Major Shareholder Mfn Partners, Lp Purchases 35,985 Shares

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp bought 35,985 shares of the stock in a transaction on Tuesday, April 16th. The shares were acquired at an average cost of $20.22 per share, for a total transaction of $727,616.70. Following the acquisition, the insider now directly owns 15,629,679 shares in the company, valued at $316,032,109.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more 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 Friday, April 12th, Mfn Partners, Lp bought 5,139 shares of RXO stock. The shares were acquired at an average cost of $20.39 per share, for a total transaction of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp bought 919,720 shares of RXO stock. The shares were acquired at an average cost 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 purchased at an average cost of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Stock Performance

NYSE RXO opened at $19.23 on Thursday. The company has a 50-day simple moving average of $21.01 and a two-hundred day simple moving average of $20.86. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. RXO, Inc. has a 12-month low of $16.94 and a 12-month high of $24.33. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 480.87, a PEG ratio of 7.21 and a beta of 1.08.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (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 period in the prior year, the business posted $0.28 earnings per share. The company’s revenue was down 12.7% on a year-over-year basis. On average, equities analysts forecast that RXO, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RXO shares. Oppenheimer decreased their price target on shares of RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, February 13th. Susquehanna upped their price target on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a report on Monday, March 25th. TD Cowen upped their price target on shares of RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a report on Friday, February 9th. Bank of America cut shares of RXO from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $22.00 in a report on Thursday, February 8th. Finally, Stifel Nicolaus upped 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.23.

Institutional Trading of RXO

A number of institutional investors have recently modified their holdings of the company. Kirr Marbach & Co. LLC IN boosted its holdings in shares of RXO by 0.3% during the third quarter. Kirr Marbach & Co. LLC IN now owns 191,715 shares of the company’s stock worth $3,783,000 after purchasing an additional 653 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of RXO by 16.8% during the second quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock worth $121,000 after purchasing an additional 770 shares during the period. Sei Investments Co. boosted its holdings in shares of RXO by 4.9% during the fourth quarter. Sei Investments Co. now owns 17,323 shares of the company’s stock worth $403,000 after purchasing an additional 811 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of RXO by 1.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after purchasing an additional 820 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of RXO by 0.3% during the third quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock worth $6,981,000 after purchasing an additional 905 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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.