RXO, Inc. (NYSE:RXO) Major Shareholder Buys $727,616.70 in Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp acquired 35,985 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was purchased at an average price of $20.22 per share, with a total value of $727,616.70. Following the completion of the transaction, the insider now owns 15,629,679 shares of the company’s stock, valued at $316,032,109.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 bought 870,000 shares of RXO stock. The stock was acquired at an average cost of $19.52 per share, for a total transaction of $16,982,400.00.
• On Friday, April 12th, Mfn Partners, Lp purchased 5,139 shares of RXO stock. The shares were 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 shares were 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 acquired 747,424 shares of RXO stock. The stock was bought at an average price of $20.25 per share, with a total value of $15,135,336.00.

RXO Stock Performance

Shares of RXO opened at $19.37 on Friday. 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 twelve month low of $16.94 and a twelve month high of $24.33. The firm’s 50 day moving average price is $20.95 and its two-hundred day moving average price is $20.85. The firm has a market cap of $2.28 billion, a P/E ratio of 484.37, a PEG ratio of 6.77 and a beta of 1.08.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stifel Nicolaus upped 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 lowered shares of RXO from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Oppenheimer reduced their price objective on shares of RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 13th. Benchmark reissued a “hold” rating on shares of RXO in a research note on Friday. Finally, TD Cowen lifted their price objective on shares of RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, February 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.23.

Institutional Trading of RXO

A number of institutional investors have recently made changes to their positions in the business. Kirr Marbach & Co. LLC IN lifted 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 purchasing an additional 653 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of RXO by 16.8% in the second 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 in the last quarter. Sei Investments Co. lifted its position in shares of RXO by 4.9% in the fourth quarter. Sei Investments Co. now owns 17,323 shares of the company’s stock worth $403,000 after purchasing an additional 811 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of RXO by 1.6% in the fourth 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 in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of RXO by 0.3% in the third quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock worth $6,981,000 after purchasing an additional 905 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

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.