RXO, Inc. (NYSE:RXO) Major Shareholder Acquires $2,108,654.55 in Stock

RXO, Inc. (NYSE:RXO) major shareholder Mfn Partners, Lp bought 105,065 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $20.07 per share, for a total transaction of $2,108,654.55. Following the completion of the transaction, the insider now directly owns 17,280,434 shares in the company, valued at $346,818,310.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mfn Partners, Lp also recently made the following trade(s):

• On Monday, May 6th, Mfn Partners, Lp purchased 361 shares of RXO stock. The shares were acquired at an average price of $20.40 per share, for a total transaction of $7,364.40.
• On Wednesday, April 24th, Mfn Partners, Lp acquired 100,000 shares of RXO stock. The stock was acquired at an average price of $19.44 per share, with a total value of $1,944,000.00.
• On Monday, April 22nd, Mfn Partners, Lp purchased 11,449 shares of RXO stock. The stock was bought at an average cost of $19.48 per share, for a total transaction of $223,026.52.
• 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 bought 35,985 shares of RXO stock. The shares were bought at an average cost of $20.22 per share, with a total value of $727,616.70.
• On Friday, April 12th, Mfn Partners, Lp purchased 5,139 shares of RXO stock. The stock was bought at an average cost of $20.39 per share, for a total transaction of $104,784.21.
• On Thursday, February 8th, Mfn Partners, Lp acquired 919,720 shares of RXO stock. The shares were purchased at an average price of $21.04 per share, with a total value of $19,350,908.80.

RXO Stock Down 1.3 %

RXO stock opened at $20.46 on Thursday. RXO, Inc. has a one year low of $16.94 and a one year high of $24.33. The firm has a market cap of $2.40 billion, a PE ratio of -227.33, a PEG ratio of 7.91 and a beta of 1.24. The firm’s 50 day moving average price is $20.56 and its 200-day moving average price is $20.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.14.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The company had revenue of $913.00 million for the quarter, compared to the consensus estimate of $929.50 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities research analysts anticipate that RXO, Inc. will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Douglas Lane & Associates LLC raised its stake in shares of RXO by 2.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock valued at $57,871,000 after acquiring an additional 66,757 shares during the period. Massachusetts Financial Services Co. MA raised its position in RXO by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock valued at $38,773,000 after purchasing an additional 23,497 shares during the period. Dimensional Fund Advisors LP raised its position in RXO by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock valued at $43,489,000 after purchasing an additional 93,885 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in RXO by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,519 shares of the company’s stock worth $42,415,000 after purchasing an additional 141,056 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of RXO by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock worth $41,345,000 after buying an additional 138,365 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

RXO has been the topic of a number of research analyst reports. Susquehanna lifted their price target on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research note on Monday, March 25th. Oppenheimer dropped their target price on shares of RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 13th. Bank of America downgraded shares of RXO from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Stifel Nicolaus boosted their price target on shares of RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Finally, Benchmark reissued a “hold” rating on shares of RXO in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.55.

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.