Allspring Global Investments Holdings LLC Invests $42.59 Million in QXO, Inc. (NASDAQ:QXO)

Allspring Global Investments Holdings LLC purchased a new stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,700,866 shares of the company's stock, valued at approximately $42,593,000. Allspring Global Investments Holdings LLC owned approximately 0.66% of QXO at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Claro Advisors LLC acquired a new position in QXO in the 3rd quarter worth approximately $111,000. Willis Investment Counsel acquired a new position in shares of QXO during the third quarter valued at approximately $237,000. Compagnie Lombard Odier SCmA boosted its stake in QXO by 2,000.0% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company's stock worth $33,000 after purchasing an additional 2,000 shares during the last quarter. Gainplan LLC acquired a new position in shares of QXO during the 3rd quarter worth approximately $55,000. Finally, SG Americas Securities LLC purchased a new stake in QXO in the 3rd quarter valued at $103,000. Hedge funds and other institutional investors own 58.68% of the company's stock.

Insider Buying and Selling

In other QXO news, major shareholder Mfn Partners, Lp sold 795,894 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $15.05, for a total transaction of $11,978,204.70. Following the sale, the insider now directly owns 53,908,701 shares in the company, valued at $811,325,950.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 90.60% of the stock is owned by corporate insiders.

QXO Trading Down 1.3 %

Shares of QXO stock traded down $0.20 during mid-day trading on Wednesday, hitting $15.05. The stock had a trading volume of 722,270 shares, compared to its average volume of 910,367. The company has a market cap of $6.16 billion, a price-to-earnings ratio of -8.48, a P/E/G ratio of 2.41 and a beta of 2.31. The firm's 50-day simple moving average is $14.39. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $290.00.

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

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.