RXO Inc’s recent filing unveils that its 10% Owner MFN Partners, LP acquired Company’s shares for reported $1.98 million on Apr 25 ’24. In the deal valued at $19.79 per share,100,000 shares were bought. As a result of this transaction, MFN Partners, LP now holds 17,175,369 shares worth roughly $350.55 million.
Then, MFN Partners, LP bought 100,000 shares, generating $1,944,000 in total proceeds. Upon buying the shares at $19.44, the 10% Owner now owns 17,075,369 shares.
Before that, MFN Partners, LP bought 88,551 shares. RXO Inc shares valued at $1,758,623 were divested by the 10% Owner at a price of $19.86 per share. As a result of the transaction, MFN Partners, LP now holds 16,975,369 shares, worth roughly $346.47 million.
TD Cowen reiterated its RXO Inc [RXO] rating to a Hold in a research note published on May 03, 2024; the price target was $20. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early February has reiterated a ‘”a Market perform”‘ rating for it. BofA Securities also remained covering RXO and has decreased its forecast on February 08, 2024 with a “Neutral” recommendation from previously “Buy” rating. Vertical Research revised its rating on January 10, 2024. It rated RXO as “a Hold” which previously was an “a Buy”.
Price Performance Review of RXO
On Friday, RXO Inc [NYSE:RXO] saw its stock jump 1.44% to $20.41. Over the last five days, the stock has gained 5.42%. RXO Inc shares have fallen nearly -12.25% since the year began. Nevertheless, the stocks have risen 4.45% over the past one year. While a 52-week high of $24.33 was reached on 01/02/24, a 52-week low of $16.94 was recorded on 04/30/24. SMA at 50 days reached $20.58, while 200 days put it at $20.34. A total of 0.54 million shares were traded, compared to the trading of 1.19 million shares in the previous session.
Levels Of Support And Resistance For RXO Stock
The 24-hour chart illustrates a support level at 20.14, which if violated will result in even more drops to 19.86. On the upside, there is a resistance level at 20.74. A further resistance level may holdings at 21.06. The Relative Strength Index (RSI) on the 14-day chart is 52.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 18.63%. Stochastics %K at 52.28% indicates the stock is a holding.
