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

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp bought 870,000 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were bought at an average price of $19.52 per share, with a total value of $16,982,400.00. Following the purchase, the insider now owns 16,675,369 shares in the company, valued at approximately $325,503,202.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock 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 stock was bought at an average cost of $20.22 per share, for a total transaction of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp purchased 5,139 shares of RXO stock. The shares were purchased 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 stock was 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 purchased 747,424 shares of RXO stock. The shares were purchased at an average cost of $20.25 per share, with a total value of $15,135,336.00.

RXO Stock Up 2.3 %

Shares of NYSE:RXO opened at $19.37 on Friday. The firm has a market cap 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. The business has a fifty day simple moving average of $20.95 and a 200 day simple moving average of $20.85. 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 issued its quarterly earnings results 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. The company had revenue of $978.00 million during 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 business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Analysts predict that RXO, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RXO. LPL Financial LLC acquired a new stake in RXO during the 4th quarter worth about $205,000. PNC Financial Services Group Inc. bought a new position in RXO during the fourth quarter worth $91,000. Advisor Group Holdings Inc. acquired a new position in shares of RXO during the fourth quarter valued at about $482,000. Victory Capital Management Inc. bought a new position in shares of RXO during the 4th quarter worth about $15,584,000. Finally, Sei Investments Co. acquired a new stake in shares of RXO in the 4th quarter valued at about $458,000. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RXO. Stifel Nicolaus boosted their price objective on shares of RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Friday. Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $22.00 in a research report on Thursday, February 8th. TD Cowen lifted their target price on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research report on Friday, February 9th. Finally, Vertical Research cut shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a report on Wednesday, January 10th. Three research 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 data from MarketBeat.com, the stock presently 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.