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

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were bought at an average cost of $19.44 per share, with a total value of $1,944,000.00. Following the completion of the acquisition, the insider now directly owns 17,075,369 shares in the company, valued at approximately $331,945,173.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major 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 Monday, April 22nd, Mfn Partners, Lp acquired 11,449 shares of RXO stock. The shares were bought at an average cost of $19.48 per share, with a total value of $223,026.52.
• On Thursday, April 18th, Mfn Partners, Lp acquired 870,000 shares of RXO stock. The shares were bought at an average cost of $19.52 per share, with a total value of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp bought 35,985 shares of RXO stock. The stock was acquired at an average cost of $20.22 per share, with a total value of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp bought 5,139 shares of RXO stock. The stock was acquired at an average cost 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 stock was acquired 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 bought 747,424 shares of RXO stock. The stock was acquired at an average cost of $20.25 per share, with a total value of $15,135,336.00.

RXO Price Performance

RXO traded down $0.46 during trading on Friday, reaching $19.36. The stock had a trading volume of 370,741 shares, compared to its average volume of 649,423. The stock has a market cap of $2.28 billion, a PE ratio of 495.62, a PEG ratio of 6.80 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. RXO, Inc. has a one year low of $16.94 and a one year high of $24.33. The business has a 50-day moving average of $20.81 and a 200-day moving average of $20.87.

RXO (NYSE:RXO) last released its earnings results on Thursday, February 8th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $978.00 million for the quarter, compared to analysts’ expectations of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. The firm’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. As a group, equities research analysts anticipate that RXO, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stifel Nicolaus upped their price objective on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Bank of America downgraded 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 note on Thursday, February 8th. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Friday, April 19th. Susquehanna upped their price objective on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research note on Monday, March 25th. Finally, Vertical Research downgraded RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research note on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in shares of RXO during the fourth quarter valued at about $27,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of RXO by 6,329.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after purchasing an additional 1,962 shares during the period. Ramirez Asset Management Inc. purchased a new stake in shares of RXO during the third quarter worth about $45,000. TFO Wealth Partners LLC boosted its holdings in shares of RXO by 106,833.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after purchasing an additional 3,205 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of RXO by 2,008.5% during the fourth quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock worth $121,000 after purchasing an additional 4,941 shares during the period. 92.73% of the stock is owned by institutional investors.

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.