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

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 5,139 shares of RXO stock in a transaction on Friday, April 12th. The shares were acquired at an average cost of $20.39 per share, for a total transaction of $104,784.21. Following the purchase, the insider now owns 15,593,694 shares in the company, valued at $317,955,420.66. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% 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 acquired at an average cost 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 acquired 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 purchased 747,424 shares of RXO stock. The shares were acquired at an average cost of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Stock Down 6.2 %

NYSE RXO traded down $1.27 during trading hours on Wednesday, hitting $19.23. The company had a trading volume of 876,949 shares, compared to its average volume of 633,251. RXO, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $24.33. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 512.63, a P/E/G ratio of 7.13 and a beta of 1.08. 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 firm’s 50 day moving average is $21.07 and its 200 day moving average is $20.87.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) 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 in the prior year, the firm earned $0.28 EPS. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. Sell-side analysts anticipate that RXO, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of RXO

Large investors have recently modified their holdings of the business. Douglas Lane & Associates LLC grew its stake in shares of RXO by 10.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company’s stock valued at $59,997,000 after acquiring an additional 248,883 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in RXO by 65.6% in the third quarter. Nisa Investment Advisors LLC now owns 6,863 shares of the company’s stock worth $135,000 after purchasing an additional 2,718 shares in the last quarter. Barclays PLC grew its stake in RXO by 299.9% in the third quarter. Barclays PLC now owns 270,766 shares of the company’s stock worth $5,343,000 after purchasing an additional 203,052 shares in the last quarter. GSA Capital Partners LLP grew its stake in RXO by 325.2% in the third quarter. GSA Capital Partners LLP now owns 55,077 shares of the company’s stock worth $1,087,000 after purchasing an additional 42,123 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its stake in RXO by 151.5% in the third quarter. Motley Fool Asset Management LLC now owns 403,658 shares of the company’s stock worth $7,964,000 after purchasing an additional 243,137 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.