RXO, Inc. (NYSE:RXO) Major Shareholder Mfn Partners, Lp Acquires 11,449 Shares of Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp bought 11,449 shares of RXO stock in a transaction on Monday, April 22nd. The stock was purchased at an average price of $19.48 per share, with a total value of $223,026.52. Following the completion of the acquisition, the insider now directly owns 16,886,818 shares of the company’s stock, valued at approximately $328,955,214.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 Thursday, April 18th, Mfn Partners, Lp bought 870,000 shares of RXO stock. The stock was purchased 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 purchased 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 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 shares were 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 shares were acquired at an average price of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Trading Down 3.0 %

Shares of NYSE:RXO opened at $19.32 on Thursday. RXO, Inc. has a 12-month low of $16.94 and a 12-month high of $24.33. The company has a market capitalization of $2.27 billion, a PE ratio of 483.12, a PEG ratio of 7.01 and a beta of 1.08. The business has a 50 day moving average of $20.84 and a two-hundred day moving average of $20.87. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $978.00 million during the quarter, compared to the consensus estimate of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. RXO’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. As a group, analysts forecast that RXO, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer dropped their price target on RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 13th. Stifel Nicolaus boosted their price target on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. TD Cowen upped their target price on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research report on Friday, February 9th. Susquehanna upped their target price on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. Finally, Vertical Research lowered RXO from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.23.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RXO. Norges Bank acquired a new position in shares of RXO during the 4th quarter worth approximately $24,250,000. Jacobs Levy Equity Management Inc. raised its stake in shares of RXO by 290.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company’s stock worth $17,142,000 after buying an additional 646,540 shares during the period. Intrinsic Edge Capital Management LLC raised its stake in shares of RXO by 325.6% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 797,542 shares of the company’s stock worth $18,551,000 after buying an additional 610,166 shares during the period. 683 Capital Management LLC raised its stake in shares of RXO by 154.9% during the 3rd quarter. 683 Capital Management LLC now owns 650,000 shares of the company’s stock worth $12,824,000 after buying an additional 395,000 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in shares of RXO by 10.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company’s stock worth $59,997,000 after buying an additional 248,883 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

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.