RXO, Inc. (NYSE:RXO) Major Shareholder Mfn Partners, Lp Purchases 5,139 Shares

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 5,139 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were bought at an average cost of $20.39 per share, with a total value of $104,784.21. Following the transaction, the insider now directly owns 15,593,694 shares of the company’s stock, valued at approximately $317,955,420.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, April 16th, Mfn Partners, Lp acquired 35,985 shares of RXO stock. The shares were bought at an average cost of $20.22 per share, with a total value of $727,616.70.
• On Thursday, February 8th, Mfn Partners, Lp acquired 919,720 shares of RXO stock. The shares were bought at an average cost of $21.04 per share, with a total value of $19,350,908.80.
• On Friday, February 2nd, Mfn Partners, Lp acquired 747,424 shares of RXO stock. The shares were bought at an average cost of $20.25 per share, with a total value of $15,135,336.00.

RXO Price Performance

RXO opened at $19.23 on Thursday. RXO, Inc. has a one year low of $16.94 and a one year high of $24.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The company’s 50 day simple moving average is $21.01 and its 200-day simple moving average is $20.86. The stock has a market capitalization of $2.26 billion, a P/E ratio of 480.87, a price-to-earnings-growth ratio of 7.21 and a beta of 1.08.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.06 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 for the quarter, compared to analysts’ expectations of $996.33 million. During the same period in the prior year, the firm earned $0.28 earnings per share. RXO’s revenue was down 12.7% compared to the same quarter last year. Sell-side analysts anticipate that RXO, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of RXO

Several hedge funds have recently modified their holdings of RXO. Bessemer Group Inc. bought a new stake in shares of RXO during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC bought a new stake in shares of RXO during the fourth quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC boosted its stake in RXO by 6,329.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock valued at $39,000 after acquiring an additional 1,962 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in RXO in the fourth quarter valued at approximately $39,000. Finally, Ramirez Asset Management Inc. bought a new position in RXO in the third quarter valued at approximately $45,000. 92.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on RXO shares. Oppenheimer dropped their price target on shares of RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 13th. Stifel Nicolaus increased their price target 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. Bank of America lowered shares of RXO from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $22.00 in a research report on Thursday, February 8th. Vertical Research lowered shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research report on Wednesday, January 10th. Finally, Susquehanna raised their price objective on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a report on Monday, March 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.23.

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.