QXO, Inc. (NASDAQ:QXO) Major Shareholder Sells $105,350,000.00 in Stock

QXO, Inc. (NASDAQ:QXO - Get Free Report) major shareholder Mfn Partners, Lp sold 7,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total transaction of $105,350,000.00. Following the completion of the sale, the insider now owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Mfn Partners, Lp also recently made the following trade(s):

• On Monday, August 26th, Mfn Partners, Lp sold 795,894 shares of QXO stock. The stock was sold at an average price of $15.05, for a total transaction of $11,978,204.70.

QXO Trading Up 2.6 %

Shares of NASDAQ QXO traded up $0.40 during mid-day trading on Friday, hitting $16.05. 3,453,283 shares of the stock traded hands, compared to its average volume of 970,596. The firm has a market capitalization of $6.57 billion, a P/E ratio of -1.30, a PEG ratio of 2.38 and a beta of 2.32. QXO, Inc. has a twelve month low of $10.61 and a twelve month high of $290.00. The firm's 50 day simple moving average is $14.94.

QXO (NASDAQ:QXO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $3.22 EPS for the quarter. The firm had revenue of $14.54 million for the quarter. QXO had a positive return on equity of 0.51% and a negative net margin of 3.75%. On average, equities analysts anticipate that QXO, Inc. will post 0.32 EPS for the current year.

Institutional Trading of QXO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Driehaus Capital Management LLC acquired a new position in shares of QXO in the 2nd quarter worth approximately $160,859,000. Allspring Global Investments Holdings LLC bought a new position in QXO during the third quarter worth $42,593,000. Wealth Enhancement Advisory Services LLC acquired a new position in QXO in the third quarter valued at $934,000. SG Americas Securities LLC bought a new stake in QXO during the third quarter valued at $103,000. Finally, Millennium Management LLC acquired a new stake in QXO during the 2nd quarter worth about $159,247,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

About QXO

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.