Finepoint Capital LP bought a new stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 25,750,781 shares of the company's stock, valued at approximately $406,090,000. QXO makes up 29.5% of Finepoint Capital LP's portfolio, making the stock its largest position. Finepoint Capital LP owned about 6.29% of QXO at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company acquired a new stake in shares of QXO during the 3rd quarter valued at about $1,522,000. Canton Hathaway LLC bought a new position in QXO during the 3rd quarter valued at about $287,000. Brown Brothers Harriman & Co. bought a new position in QXO during the 3rd quarter valued at about $41,000. Summit Trail Advisors LLC bought a new position in QXO during the 3rd quarter valued at about $1,805,000. Finally, Meridian Wealth Management LLC bought a new position in QXO during the 3rd quarter valued at about $841,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at QXO
In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total value of $105,350,000.00. Following the completion of the transaction, the insider now directly owns 46,908,701 shares of the company's stock, valued at approximately $705,975,950.05. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 51.30% of the stock is currently owned by insiders.
QXO Stock Performance
QXO stock traded up $0.53 during trading on Tuesday, hitting $17.99. 2,084,101 shares of the stock traded hands, compared to its average volume of 1,102,500. QXO, Inc. has a one year low of $10.61 and a one year high of $290.00. The stock has a market cap of $7.37 billion, a PE ratio of -1.91, a price-to-earnings-growth ratio of 2.66 and a beta of 2.32. The stock has a 50 day moving average of $15.34.
About QXO
(
Free Report)
QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.
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