Mfn Partners, Lp Acquires 11,449 Shares of RXO, Inc. (NYSE:RXO) Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp bought 11,449 shares of the stock in a transaction on Monday, April 22nd. The stock was bought at an average price of $19.48 per share, for a total transaction of $223,026.52. Following the completion of the purchase, the insider now directly owns 16,886,818 shares in the company, valued at approximately $328,955,214.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 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 Thursday, April 18th, Mfn Partners, Lp bought 870,000 shares of RXO stock. The stock was bought at an average price of $19.52 per share, for a total transaction of $16,982,400.00.
• On Tuesday, April 16th, Mfn Partners, Lp bought 35,985 shares of RXO stock. The stock was bought at an average price of $20.22 per share, for a total transaction of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp bought 5,139 shares of RXO stock. The stock was bought at an average price of $20.39 per share, for a total transaction of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp bought 919,720 shares of RXO stock. The stock was 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 bought 747,424 shares of RXO stock. The stock was bought at an average price of $20.25 per share, for a total transaction of $15,135,336.00.

RXO Stock Performance

Shares of RXO stock opened at $19.32 on Thursday. The stock has a fifty day moving average price of $20.84 and a 200 day moving average price of $20.87. The stock has a market cap of $2.27 billion, a PE ratio of 483.12, a P/E/G ratio of 7.01 and a beta of 1.08. RXO, Inc. has a 1 year low of $16.94 and a 1 year 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 released its quarterly earnings results 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. RXO had a return on equity of 6.11% and a net margin of 0.10%. The company had revenue of $978.00 million during the quarter, compared to analysts’ expectations of $996.33 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. Sell-side analysts forecast that RXO, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RXO shares. Stifel Nicolaus lifted their price target 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 decreased their price target for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. TD Cowen lifted their price target on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research note on Friday, February 9th. Oppenheimer decreased their price target on RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 13th. Finally, Susquehanna lifted their price target on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research note on Monday, March 25th. Three equities 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 company’s stock. Based on data from MarketBeat.com, RXO has a consensus rating of “Hold” and a consensus price target of $20.23.

Hedge Funds Weigh In On RXO

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

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.