RXO, Inc. (NYSE:RXO) Major Shareholder Mfn Partners, Lp Acquires 43,678 Shares

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 43,678 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $19.74 per share, for a total transaction of $862,203.72. Following the purchase, the insider now owns 12,985,002 shares of the company’s stock, valued at $256,323,939.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 Friday, November 17th, Mfn Partners, Lp purchased 26,648 shares of RXO stock. The shares were acquired at an average cost of $19.84 per share, for a total transaction of $528,696.32.
• On Wednesday, November 15th, Mfn Partners, Lp purchased 100,000 shares of RXO stock. The shares were acquired at an average cost of $19.67 per share, for a total transaction of $1,967,000.00.
• On Monday, November 13th, Mfn Partners, Lp purchased 30,522 shares of RXO stock. The shares were acquired at an average cost of $18.15 per share, for a total transaction of $553,974.30.

RXO Stock Down 0.6 %

NYSE:RXO opened at $19.85 on Tuesday. RXO, Inc. has a 1-year low of $15.67 and a 1-year high of $23.74. The company has a 50-day moving average of $18.68 and a 200 day moving average of $19.84. The firm has a market cap of $2.32 billion and a PE ratio of -1,985.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.29 and a quick ratio of 1.29.

RXO (NYSE:RXO) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $976.00 million during the quarter, compared to analyst estimates of $957.88 million. RXO had a negative net margin of 0.05% and a positive return on equity of 10.55%. The company’s quarterly revenue was down 14.2% 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, research analysts anticipate that RXO, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus cut their price objective on shares of RXO from $19.00 to $17.00 and set a “hold” rating on the stock in a research report on Monday, October 16th. Oppenheimer reiterated an “outperform” rating and set a $24.00 price objective on shares of RXO in a research report on Monday, August 7th. JPMorgan Chase & Co. cut shares of RXO from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $17.00 to $16.00 in a research report on Wednesday, October 11th. Susquehanna cut their price objective on shares of RXO from $14.00 to $13.00 and set a “negative” rating on the stock in a research report on Tuesday, October 3rd. Finally, Morgan Stanley cut their price target on shares of RXO from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.81.

Institutional Trading of RXO

Hedge funds have recently modified their holdings of the company. WASHINGTON TRUST Co purchased a new stake in shares of RXO during the first quarter valued at about $26,000. Bessemer Group Inc. purchased a new stake in shares of RXO during the fourth quarter valued at about $26,000. Tilia Fiduciary Partners Inc. purchased a new stake in shares of RXO during the first quarter valued at about $30,000. Allspring Global Investments Holdings LLC lifted its position in shares of RXO by 6,329.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock valued at $39,000 after buying an additional 1,962 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of RXO during the fourth quarter valued at about $39,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. The company also offers brokered services for managed transportation, last mile, and freight forwarding. RXO, Inc was founded in 2022 and is based in Charlotte, North Carolina.