RXO, Inc. (NYSE:RXO) Major Shareholder Mfn Partners, Lp Purchases 35,985 Shares

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 35,985 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was bought at an average price of $20.22 per share, with a total value of $727,616.70. Following the completion of the purchase, the insider now owns 15,629,679 shares of the company’s stock, valued at approximately $316,032,109.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 Friday, April 12th, Mfn Partners, Lp bought 5,139 shares of RXO stock. The shares were acquired at an average price of $20.39 per share, with a total value of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp bought 919,720 shares of RXO stock. The shares were acquired at an average price of $21.04 per share, with a total value of $19,350,908.80.
• On Friday, February 2nd, Mfn Partners, Lp bought 747,424 shares of RXO stock. The shares were acquired at an average price of $20.25 per share, with a total value of $15,135,336.00.

RXO Stock Performance

NYSE RXO opened at $19.23 on Thursday. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 480.87, a PEG ratio of 7.21 and a beta of 1.08. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $24.33. The stock has a fifty day simple moving average of $21.01 and a 200 day simple moving average of $20.86. 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 (NYSE:RXO) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $978.00 million during the quarter, compared to the consensus estimate of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. RXO’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. Sell-side analysts expect that RXO, Inc. will post 0.22 EPS for the current year.

Institutional Trading of RXO

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in RXO by 16.3% during the 2nd quarter. BlackRock Inc. now owns 18,527,587 shares of the company’s stock worth $420,020,000 after acquiring an additional 2,595,713 shares during the period. State Street Corp grew its holdings in RXO by 15.7% during the 2nd quarter. State Street Corp now owns 4,509,809 shares of the company’s stock worth $102,237,000 after acquiring an additional 610,359 shares during the period. Douglas Lane & Associates LLC grew its holdings in RXO by 2.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after acquiring an additional 66,757 shares during the period. Dimensional Fund Advisors LP grew its holdings in RXO by 34.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,059,826 shares of the company’s stock worth $40,453,000 after acquiring an additional 532,311 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in RXO by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock worth $38,773,000 after acquiring an additional 23,497 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Vertical Research cut RXO from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research note on Wednesday, January 10th. TD Cowen increased their price target on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research note on Friday, February 9th. Stifel Nicolaus increased their price target on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Oppenheimer dropped their price target on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, February 13th. Finally, Susquehanna increased their price target on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research note on Monday, March 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.