Mfn Partners, Lp Purchases 100,000 Shares of RXO, Inc. (NYSE:RXO) Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average price of $19.44 per share, with a total value of $1,944,000.00. Following the acquisition, the insider now owns 17,075,369 shares of the company’s stock, valued at $331,945,173.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Monday, April 22nd, Mfn Partners, Lp purchased 11,449 shares of RXO stock. The stock was purchased at an average cost of $19.48 per share, for a total transaction of $223,026.52.
• On Thursday, April 18th, Mfn Partners, Lp purchased 870,000 shares of RXO stock. The stock was purchased at an average cost of $19.52 per share, for a total transaction of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp purchased 35,985 shares of RXO stock. The stock was purchased at an average cost of $20.22 per share, for a total transaction of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp bought 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 bought at an average cost of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Stock Down 2.3 %

NYSE RXO opened at $19.36 on Friday. The stock’s 50-day moving average price is $20.77 and its 200-day moving average price is $20.87. 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 52 week low of $16.94 and a 52 week high of $24.33. The company has a market capitalization of $2.28 billion, a P/E ratio of 484.00, a price-to-earnings-growth ratio of 6.98 and a beta of 1.08.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RXO shares. Stifel Nicolaus increased their price objective on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Bank of America cut 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. Vertical Research cut RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research report on Wednesday, January 10th. Susquehanna increased their price objective on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. Finally, TD Cowen increased their price objective on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.23.

Institutional Inflows and Outflows

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

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.