RXO Inc’s recently made public 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 $811.06 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 $509.11 million.
A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in early October with a ‘”a Buy”‘ rating. TD Cowen maintained its rating on May 03, 2024. It rated RXO as “a Hold”.
Price Performance Review of RXO
On Monday, RXO Inc [NYSE:RXO] saw its stock fall -1.28% to $29.41. Over the last five days, the stock has gained 5.22%. RXO Inc shares have risen nearly 26.44% since the year began. Nevertheless, the stocks have risen 68.06% over the past one year. While a 52-week high of $32.82 was reached on 07/31/24, a 52-week low of $17.29 was recorded on 04/30/24. SMA at 50 days reached $27.86, while 200 days put it at $24.39.
Levels Of Support And Resistance For RXO Stock
The 24-hour chart illustrates a support level at 29.02, which if violated will result in even more drops to 28.64. On the upside, there is a resistance level at 30.14. A further resistance level may holdings at 30.87. The Relative Strength Index (RSI) on the 14-day chart is 53.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.51, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 57.24%. Stochastics %K at 40.39% indicates the stock is a holding.
How much short interest is there in RXO Inc?
A steep rise in short interest was recorded in RXO Inc stocks on 2024-10-15, growing by 0.59 million shares to a total of 3.95 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 3.36 million shares. There was a rise of 15.04%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on February 09, 2024 when TD Cowen resumed its ‘”a Market perform”‘ rating for the stock and retained the price target to $19.50.
