RXO, Inc. (NYSE:RXO) Shares Bought by MFN Partners Management LP

MFN Partners Management LP raised its stake in shares of RXO, Inc. (NYSE:RXO) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,310,856 shares of the company’s stock after acquiring an additional 1,722,301 shares during the period. RXO makes up 15.3% of MFN Partners Management LP’s investment portfolio, making the stock its 2nd biggest holding. MFN Partners Management LP owned 14.73% of RXO worth $452,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of 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. Douglas Lane & Associates LLC grew its holdings 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 worth $57,871,000 after acquiring an additional 66,757 shares during the period. Norges Bank purchased a new position in RXO in the 4th quarter valued at approximately $24,250,000. GSA Capital Partners LLP raised its holdings in RXO by 433.8% during the first quarter. GSA Capital Partners LLP now owns 56,002 shares of the company’s stock worth $1,225,000 after purchasing an additional 45,510 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in RXO during the first quarter worth $542,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RXO shares. UBS Group raised their target price on shares of RXO from $22.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Barclays lifted their price objective on RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Susquehanna increased their target price on RXO from $14.00 to $20.00 and gave the company a “negative” rating in a report on Thursday, August 15th. Jefferies Financial Group cut their price target on RXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $31.00 price objective on shares of RXO in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.00.

RXO Stock Up 0.2 %

Shares of NYSE:RXO opened at $25.89 on Wednesday. RXO, Inc. has a 52 week low of $16.94 and a 52 week high of $32.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $3.59 billion, a PE ratio of -287.67, a price-to-earnings-growth ratio of 12.46 and a beta of 1.35. The firm has a 50 day simple moving average of $28.62 and a 200 day simple moving average of $23.83.

RXO (NYSE:RXO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The firm had revenue of $930.00 million for the quarter, compared to the consensus estimate of $934.14 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The firm’s revenue was down 3.4% on a year-over-year basis. As a group, research analysts expect that RXO, Inc. will post 0.14 earnings per share for the current year.

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.