RXO, Inc. (NYSE:RXO) Major Shareholder Mfn Partners, Lp Buys 870,000 Shares

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 870,000 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were purchased at an average price of $19.52 per share, for a total transaction of $16,982,400.00. Following the purchase, the insider now directly owns 16,675,369 shares in the company, valued at $325,503,202.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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 purchased 35,985 shares of RXO stock. The shares were purchased at an average price 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 shares were bought at an average cost of $20.39 per share, with a total value of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp acquired 919,720 shares of RXO stock. The shares were bought at an average cost of $21.04 per share, with a total value 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, with a total value of $15,135,336.00.

RXO Stock Up 2.3 %

RXO opened at $19.37 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The business has a 50 day simple moving average of $20.95 and a 200-day simple moving average of $20.86. The stock has a market capitalization of $2.28 billion, a P/E ratio of 484.37, a P/E/G ratio of 6.66 and a beta of 1.08. RXO, Inc. has a 12 month low of $16.94 and a 12 month high of $24.33.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $996.33 million. During the same period last year, the business posted $0.28 EPS. RXO’s quarterly revenue was down 12.7% on a year-over-year basis. On average, equities analysts anticipate that RXO, Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in RXO by 2,235.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after purchasing an additional 3,487 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in RXO in the 1st quarter valued at approximately $2,283,000. Douglas Lane & Associates LLC increased its stake in RXO by 2.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock valued at $57,871,000 after purchasing an additional 66,757 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in RXO by 62.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock valued at $121,000 after purchasing an additional 1,987 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in RXO by 8.4% in the 4th quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock valued at $41,345,000 after purchasing an additional 138,365 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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