MFN Partners Management LP Raises Holdings in RXO, Inc. (NYSE:RXO)

MFN Partners Management LP increased its position in shares of RXO, Inc. (NYSE:RXO) by 11.0% during the second quarter, HoldingsChannel.com reports. The firm owned 17,310,856 shares of the company’s stock after buying an additional 1,722,301 shares during the period. RXO accounts for about 15.3% of MFN Partners Management LP’s investment portfolio, making the stock its 2nd largest holding. MFN Partners Management LP owned about 0.15% of RXO worth $452,679,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of RXO by 27.5% during the 4th quarter. Victory Capital Management Inc. now owns 38,479 shares of the company’s stock worth $895,000 after acquiring an additional 8,295 shares during the period. Dimensional Fund Advisors LP lifted its stake in RXO by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock worth $43,489,000 after purchasing an additional 93,885 shares during the period. Independent Advisor Alliance boosted its holdings in RXO by 26.0% during the fourth quarter. Independent Advisor Alliance now owns 29,576 shares of the company’s stock valued at $688,000 after purchasing an additional 6,101 shares in the last quarter. Norges Bank bought a new stake in shares of RXO in the 4th quarter valued at approximately $24,250,000. Finally, US Bancorp DE grew its stake in shares of RXO by 430.2% in the 4th quarter. US Bancorp DE now owns 45,309 shares of the company’s stock valued at $1,054,000 after purchasing an additional 36,764 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RXO has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Morgan Stanley upped their target price on shares of RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. TD Cowen lifted their price target on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Susquehanna upped their price objective on shares of RXO from $14.00 to $20.00 and gave the stock a “negative” rating in a research note on Thursday, August 15th. Finally, Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and an average price target of $26.00.

RXO Stock Up 0.2 %

NYSE RXO opened at $25.89 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. RXO, Inc. has a 52 week low of $16.94 and a 52 week high of $32.82. The stock has a market capitalization of $3.59 billion, a P/E ratio of -287.67, a price-to-earnings-growth ratio of 12.46 and a beta of 1.35. The stock has a fifty day moving average of $28.62 and a 200-day moving average of $23.83.

RXO (NYSE:RXO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (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 analysts’ expectations of $934.14 million. During the same period last year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts forecast that RXO, Inc. will post 0.14 EPS for the current year.

RXO 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.