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

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 105,065 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $20.07 per share, with a total value of $2,108,654.55. Following the completion of the transaction, the insider now owns 17,280,434 shares of the company’s stock, valued at $346,818,310.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 purchased at an average cost of $19.44 per share, for a total transaction of $1,944,000.00.
• On Monday, April 22nd, Mfn Partners, Lp purchased 11,449 shares of RXO stock. The shares were purchased at an average cost of $19.48 per share, with a total value of $223,026.52.
• On Thursday, April 18th, Mfn Partners, Lp acquired 870,000 shares of RXO stock. The stock was purchased at an average cost 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 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 bought 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 acquired 919,720 shares of RXO stock. The shares were bought at an average price of $21.04 per share, with a total value of $19,350,908.80.

RXO Trading Up 0.9 %

NYSE RXO opened at $20.72 on Wednesday. RXO, Inc. has a 52 week low of $16.94 and a 52 week high of $24.33. The company has a 50 day moving average price of $20.57 and a 200 day moving average price of $20.92. The company has a quick ratio of 1.17, a current ratio of 1.14 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.44 billion, a PE ratio of -229.67, a price-to-earnings-growth ratio of 7.91 and a beta of 1.24.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen lifted their price target on shares of RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Susquehanna increased their price target on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research report on Monday, March 25th. Benchmark restated a “hold” rating on shares of RXO in a report on Friday, April 19th. Oppenheimer lowered their price objective 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. Finally, Bank of America lowered shares of RXO from a “buy” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $22.00 in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, RXO has a consensus rating of “Hold” and an average target price of $20.55.

Institutional Investors Weigh In On RXO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RXO. GAMMA Investing LLC acquired a new position in shares of RXO during the fourth quarter valued at about $27,000. Allspring Global Investments Holdings LLC increased its stake in RXO by 6,329.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock valued at $39,000 after purchasing an additional 1,962 shares in the last quarter. Ramirez Asset Management Inc. acquired a new position in RXO during the 3rd quarter valued at approximately $45,000. TFO Wealth Partners LLC raised its holdings in shares of RXO by 106,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after buying an additional 3,205 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of RXO by 2,008.5% during the fourth quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock worth $121,000 after buying an additional 4,941 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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.