RXO, Inc. (NYSE:RXO) Major Shareholder Purchases $104,784.21 in Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp purchased 5,139 shares of the business’s stock in a transaction on Friday, April 12th. The stock was purchased at an average cost of $20.39 per share, for a total transaction of $104,784.21. Following the completion of the acquisition, the insider now directly owns 15,593,694 shares of the company’s stock, valued at approximately $317,955,420.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 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, for a total transaction of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp acquired 35,985 shares of RXO stock. The shares were bought at an average cost of $20.22 per share, for a total transaction of $727,616.70.
• On Thursday, February 8th, Mfn Partners, Lp acquired 919,720 shares of RXO stock. The shares were bought 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 acquired 747,424 shares of RXO stock. The shares were bought at an average cost of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Trading Up 2.3 %

Shares of RXO stock opened at $19.37 on Friday. The firm has a 50-day simple moving average of $20.95 and a two-hundred day simple moving average of $20.85. The company has a market cap of $2.28 billion, a P/E ratio of 484.37, a price-to-earnings-growth ratio of 6.66 and a beta of 1.08. RXO, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $24.33. 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 (NYSE:RXO) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, topping 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 net margin of 0.10% and a return on equity of 6.11%. The company’s 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. As a group, equities analysts predict that RXO, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kirr Marbach & Co. LLC IN raised its position in shares of RXO by 0.3% in the third quarter. Kirr Marbach & Co. LLC IN now owns 191,715 shares of the company’s stock worth $3,783,000 after acquiring an additional 653 shares during the period. PNC Financial Services Group Inc. raised its position in shares of RXO by 16.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock worth $121,000 after purchasing an additional 770 shares during the last quarter. Sei Investments Co. raised its position in shares of RXO by 4.9% during the 4th quarter. Sei Investments Co. now owns 17,323 shares of the company’s stock worth $403,000 after purchasing an additional 811 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of RXO by 1.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after purchasing an additional 820 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of RXO by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock worth $6,981,000 after purchasing an additional 905 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RXO. Oppenheimer dropped their price objective on shares of RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, February 13th. Susquehanna boosted their price objective on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a report on Monday, March 25th. Bank of America downgraded shares of RXO from a “buy” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $22.00 in a research report on Thursday, February 8th. Vertical Research downgraded shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Wednesday, January 10th. Finally, TD Cowen boosted their target price on shares of RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.23.

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.