MFN Partners Management LP Sells 7,000,000 Shares of QXO, Inc. (NASDAQ:QXO)

MFN Partners Management LP lessened its stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,908,701 shares of the company's stock after selling 7,000,000 shares during the quarter. QXO accounts for 14.7% of MFN Partners Management LP's investment portfolio, making the stock its 2nd biggest position. MFN Partners Management LP owned 11.46% of QXO worth $745,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of QXO. Brown Brothers Harriman & Co. purchased a new stake in QXO during the 3rd quarter worth $41,000. SG Americas Securities LLC lifted its stake in shares of QXO by 45.8% in the fourth quarter. SG Americas Securities LLC now owns 9,544 shares of the company's stock worth $152,000 after acquiring an additional 3,000 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of QXO in the third quarter worth about $166,000. Entropy Technologies LP purchased a new position in QXO in the fourth quarter valued at about $169,000. Finally, Wexford Capital LP acquired a new stake in QXO during the 3rd quarter valued at approximately $189,000. Hedge funds and other institutional investors own 58.68% of the company's stock.

QXO Stock Up 3.0 %

Shares of QXO traded up $0.43 during trading on Wednesday, reaching $14.61. The company's stock had a trading volume of 1,495,678 shares, compared to its average volume of 2,180,092. The company has a market cap of $5.98 billion, a price-to-earnings ratio of -1.60, a P/E/G ratio of 4.09 and a beta of 2.35. The company has a fifty day moving average of $13.25 and a two-hundred day moving average of $14.75. QXO, Inc. has a twelve month low of $10.61 and a twelve month high of $290.00.

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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.