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

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 11,449 shares of the business’s 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 purchase, the insider now owns 16,886,818 shares of the company’s stock, valued at $328,955,214.64. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 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 purchased 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 acquired 35,985 shares of RXO stock. The stock was bought at an average cost of $20.22 per share, for a total transaction of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp acquired 5,139 shares of RXO stock. The stock was bought at an average cost 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 stock was bought 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 acquired 747,424 shares of RXO stock. The stock was bought at an average cost of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Trading Up 2.6 %

Shares of RXO stock opened at $19.82 on Friday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 495.62, a PEG ratio of 7.01 and a beta of 1.08. 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’s 50-day moving average price is $20.81 and its two-hundred day moving average price is $20.87.

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

Institutional Investors Weigh In On RXO

A number of hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of RXO by 1.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock valued at $1,231,000 after purchasing an additional 820 shares in the last quarter. Rhumbline Advisers boosted its position in RXO by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock worth $6,981,000 after buying an additional 905 shares during the period. Hohimer Wealth Management LLC boosted its position in RXO by 2.4% during the 4th quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock worth $1,079,000 after buying an additional 1,109 shares during the period. GAMMA Investing LLC acquired a new stake in RXO during the 4th quarter worth approximately $27,000. Finally, Oppenheimer Asset Management Inc. boosted its position in RXO by 9.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 20,788 shares of the company’s stock worth $410,000 after buying an additional 1,855 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RXO has been the topic of several research analyst reports. Bank of America lowered shares of RXO from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $22.00 in a research report on Thursday, February 8th. Susquehanna increased their price objective on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. Stifel Nicolaus raised 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. Oppenheimer lowered their price target on shares of RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 13th. Finally, Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.