RXO, Inc. (NYSE:RXO) Major Shareholder Purchases $1,944,000.00 in Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average cost of $19.44 per share, for a total transaction of $1,944,000.00. Following the acquisition, the insider now directly owns 17,075,369 shares in the company, valued at approximately $331,945,173.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% 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 Monday, April 22nd, Mfn Partners, Lp bought 11,449 shares of RXO stock. The shares were bought at an average price of $19.48 per share, with a total value of $223,026.52.
• On Thursday, April 18th, Mfn Partners, Lp bought 870,000 shares of RXO stock. The shares were bought at an average price 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 shares were bought at an average price 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 shares were bought at an average price 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 shares were bought 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 acquired 747,424 shares of RXO stock. The stock was acquired at an average price of $20.25 per share, with a total value of $15,135,336.00.

RXO Trading Down 2.3 %

Shares of RXO stock traded down $0.46 during trading on Friday, reaching $19.36. 370,741 shares of the company were exchanged, compared to its average volume of 649,423. 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, Inc. has a twelve month low of $16.94 and a twelve month high of $24.33. The business has a 50-day moving average price of $20.81 and a 200-day moving average price of $20.87. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 495.62, a P/E/G ratio of 6.80 and a beta of 1.08.

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

Analyst Ratings Changes

RXO has been the subject of several research analyst reports. Susquehanna lifted their price objective on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Friday, April 19th. TD Cowen lifted their price objective on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research report on Friday, February 9th. Oppenheimer cut their price objective on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 13th. Finally, Stifel Nicolaus boosted their target price on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock 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 added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new position in RXO in the fourth quarter valued at about $27,000. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 1,962 shares during the period. Ramirez Asset Management Inc. acquired a new position in shares of RXO during the third quarter worth about $45,000. TFO Wealth Partners LLC boosted its position 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 buying an additional 3,205 shares during the period. Finally, International Assets Investment Management LLC boosted its position 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 buying an additional 4,941 shares during the period. 92.73% of the stock is 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.