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

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 11,449 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average price of $19.48 per share, for a total transaction of $223,026.52. Following the transaction, the insider now directly owns 16,886,818 shares of the company’s stock, valued at $328,955,214.64. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major 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 purchased at an average price of $20.22 per share, with a total value of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp acquired 5,139 shares of RXO stock. The stock was acquired at an average cost of $20.39 per share, with a total value of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp purchased 919,720 shares of RXO stock. The stock was bought 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 acquired 747,424 shares of RXO stock. The shares were bought at an average cost of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Price Performance

RXO traded down $0.59 on Wednesday, hitting $19.32. 614,032 shares of the company’s stock were exchanged, compared to its average volume of 651,984. The firm has a 50-day moving average price of $20.89 and a 200-day moving average price of $20.88. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 483.12, a P/E/G ratio of 6.86 and a beta of 1.08. 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, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $24.33.

RXO (NYSE:RXO) last posted 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. RXO had a return on equity of 6.11% and a net margin of 0.10%. The business had revenue of $978.00 million during the quarter, compared to analyst estimates of $996.33 million. During the same period in the prior year, the business earned $0.28 earnings per share. The business’s revenue was down 12.7% compared to the same quarter last year. As a group, equities analysts anticipate that RXO, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of RXO during the 4th quarter worth $24,250,000. Jacobs Levy Equity Management Inc. increased its position in shares of RXO by 290.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company’s stock valued at $17,142,000 after acquiring an additional 646,540 shares during the last quarter. Intrinsic Edge Capital Management LLC lifted its holdings in shares of RXO by 325.6% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 797,542 shares of the company’s stock worth $18,551,000 after acquiring an additional 610,166 shares during the last quarter. 683 Capital Management LLC boosted its position 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 purchasing an additional 395,000 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in shares of RXO by 10.7% during the fourth 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. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

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

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.