Empirical Capital Management LLC Acquires Shares of 30,000 QXO, Inc. (NASDAQ:QXO)

Empirical Capital Management LLC bought a new position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,000 shares of the company's stock, valued at approximately $473,000. QXO accounts for approximately 0.3% of Empirical Capital Management LLC's investment portfolio, making the stock its 18th biggest holding.

Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in QXO in the second quarter valued at $432,000. Millennium Management LLC acquired a new position in shares of QXO in the 2nd quarter valued at about $159,247,000. Driehaus Capital Management LLC purchased a new stake in shares of QXO in the second quarter worth about $160,859,000. SG Americas Securities LLC purchased a new stake in shares of QXO in the third quarter worth about $103,000. Finally, Gainplan LLC acquired a new stake in QXO during the third quarter worth about $55,000. Hedge funds and other institutional investors own 58.68% of the company's stock.

QXO Stock Performance

NASDAQ:QXO traded up $0.29 during trading hours on Friday, reaching $17.39. The company had a trading volume of 3,275,346 shares, compared to its average volume of 2,968,349. QXO, Inc. has a 1-year low of $10.61 and a 1-year high of $290.00. The stock has a 50 day moving average price of $15.70. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of -1.91 and a beta of 2.32.

Insider Transactions at QXO

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.05, for a total transaction of $105,350,000.00. Following the transaction, the insider now owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. This represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 51.30% of the company's stock.

QXO Profile

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.