RXO, Inc. (NYSE:RXO) Major Shareholder Purchases $16,982,400.00 in Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 870,000 shares of RXO stock in a transaction that occurred on Thursday, April 18th. The stock was purchased at an average cost of $19.52 per share, for a total transaction of $16,982,400.00. Following the completion of the purchase, the insider now owns 16,675,369 shares of the company’s stock, valued at $325,503,202.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% 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 Tuesday, April 16th, Mfn Partners, Lp acquired 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 purchased 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 bought 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 bought 747,424 shares of RXO stock. The stock was purchased at an average price of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Price Performance

Shares of NYSE RXO traded up $0.44 during midday trading on Friday, reaching $19.37. The stock had a trading volume of 1,018,507 shares, compared to its average volume of 652,626. RXO, Inc. has a 12-month low of $16.94 and a 12-month high of $24.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 484.37, a price-to-earnings-growth ratio of 6.77 and a beta of 1.08. The stock has a 50-day moving average of $20.95 and a 200-day moving average of $20.85.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RXO shares. Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $22.00 in a report on Thursday, February 8th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Friday. Stifel Nicolaus boosted their target price on shares of RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Susquehanna increased their price target on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research report on Monday, March 25th. Finally, Oppenheimer cut their price objective 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.23.

Hedge Funds Weigh In On RXO

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. bought a new position in RXO during the fourth quarter valued at $26,000. GAMMA Investing LLC bought a new position in shares of RXO in the 4th quarter valued at about $27,000. Allspring Global Investments Holdings LLC grew its position 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 worth $39,000 after acquiring an additional 1,962 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of RXO in the 4th quarter worth approximately $39,000. Finally, Ramirez Asset Management Inc. bought a new stake in RXO in the third quarter worth $45,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.