RXO Inc’s filing revealed that its 10% Owner MFN Partners, LP acquired Company’s shares for reported $207.49 million on Aug 12 ’24. In the deal valued at $20.21 per share,10,266,810 shares were bought. As a result of this transaction, MFN Partners, LP now holds 27,577,666 shares worth roughly $824.02 million.
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Then, MFN Partners, LP bought 61 shares, generating $1,244 in total proceeds. Upon buying the shares at $20.39, the 10% Owner now owns 17,310,856 shares.
Before that, MFN Partners, LP bought 361 shares. RXO Inc shares valued at $7,364 were divested by the 10% Owner at a price of $20.40 per share. As a result of the transaction, MFN Partners, LP now holds 17,310,795 shares, worth roughly $517.25 million.
Citigroup initiated its RXO Inc [RXO] rating to a Buy in a research note published on October 09, 2024; the price target was $33. TD Cowen also remained covering RXO and reiterated its “Hold” recommendation on May 03, 2024. TD Cowen maintained its rating on February 09, 2024. It rated RXO as “a Market perform”.
Price Performance Review of RXO
On Friday, RXO Inc [NYSE:RXO] saw its stock jump 6.49% to $29.88. Over the last five days, the stock has gained 9.81%. RXO Inc shares have risen nearly 28.46% since the year began. Nevertheless, the stocks have risen 56.19% over the past one year. While a 52-week high of $32.82 was reached on 07/31/24, a 52-week low of $16.94 was recorded on 04/30/24. SMA at 50 days reached $27.79, while 200 days put it at $23.73.
Levels Of Support And Resistance For RXO Stock
The 24-hour chart illustrates a support level at 28.70, which if violated will result in even more drops to 27.51. On the upside, there is a resistance level at 30.49. A further resistance level may holdings at 31.09. The Relative Strength Index (RSI) on the 14-day chart is 67.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.98, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 0.85%. Stochastics %K at 90.60% indicates the stock is a selling.
How much short interest is there in RXO Inc?
A steep rise in short interest was recorded in RXO Inc stocks on 2024-09-30, growing by 0.63 million shares to a total of 5.16 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 4.53 million shares. There was a rise of 12.25%, which implies that there is a positive sentiment for the stock.
