Mfn Partners, Lp Purchases 5,139 Shares of RXO, Inc. (NYSE:RXO) Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 5,139 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were bought at an average price of $20.39 per share, for a total transaction of $104,784.21. Following the completion of the transaction, the insider now owns 15,593,694 shares of the company’s stock, valued at $317,955,420.66. The acquisition was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 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 Tuesday, April 16th, Mfn Partners, Lp purchased 35,985 shares of RXO stock. The shares were bought at an average price of $20.22 per share, for a total transaction of $727,616.70.
• On Thursday, February 8th, Mfn Partners, Lp purchased 919,720 shares of RXO stock. The shares were 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 purchased 747,424 shares of RXO stock. The shares were bought at an average price of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Stock Down 1.6 %

Shares of RXO opened at $18.93 on Friday. The firm has a market cap of $2.23 billion, a P/E ratio of 473.37, a P/E/G ratio of 6.77 and a beta of 1.08. The stock has a 50 day simple moving average of $20.97 and a two-hundred day simple moving average of $20.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. RXO, Inc. has a 1 year low of $16.94 and a 1 year 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 analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $978.00 million during the quarter, compared to analyst estimates of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. On average, analysts forecast that RXO, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RXO has been the topic of several research analyst reports. Oppenheimer decreased their price objective on shares of RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 13th. Bank of America cut shares of RXO from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $22.00 in a research report on Thursday, February 8th. Susquehanna upped their price objective on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research report on Monday, March 25th. Stifel Nicolaus upped their price objective on shares of RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Finally, TD Cowen upped their price objective on shares of RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.23.

Institutional Trading of RXO

A number of institutional investors have recently made changes to their positions in RXO. BlackRock Inc. boosted its stake in shares of RXO by 43.2% during the first quarter. BlackRock Inc. now owns 15,931,874 shares of the company’s stock valued at $312,902,000 after purchasing an additional 4,804,495 shares during the period. Geode Capital Management LLC purchased a new stake in shares of RXO during the fourth quarter valued at approximately $25,891,000. Millennium Management LLC purchased a new stake in shares of RXO during the fourth quarter valued at approximately $20,030,000. Fred Alger Management LLC boosted its stake in shares of RXO by 3,073.1% during the first quarter. Fred Alger Management LLC now owns 1,111,911 shares of the company’s stock valued at $21,838,000 after purchasing an additional 1,076,869 shares during the period. Finally, Norges Bank bought a new position in shares of RXO during the fourth quarter valued at approximately $24,250,000. Hedge funds and other 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.