Shares of QXO, Inc. (NASDAQ:QXO - Get Free Report) were down 2.9% during trading on Wednesday . The company traded as low as $14.73 and last traded at $14.93. Approximately 767,377 shares traded hands during trading, a decline of 47% from the average daily volume of 1,444,708 shares. The stock had previously closed at $15.37.
QXO Stock Down 2.3 %
The company has a fifty day moving average price of $16.10. The stock has a market cap of $6.15 billion, a P/E ratio of -1.65 and a beta of 2.32.
Insiders Place Their Bets
In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now directly owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 51.30% of the company's stock.
Institutional Trading of QXO
A number of hedge funds have recently made changes to their positions in the stock. Finepoint Capital LP purchased a new position in QXO during the third quarter valued at approximately $406,090,000. Geode Capital Management LLC grew its holdings in shares of QXO by 64,992.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company's stock valued at $45,019,000 after acquiring an additional 2,849,269 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of QXO during the 3rd quarter valued at $42,593,000. Driehaus Capital Management LLC acquired a new position in shares of QXO in the second quarter worth $160,859,000. Finally, Millennium Management LLC purchased a new stake in shares of QXO during the second quarter worth $159,247,000. 58.68% of the stock is owned by hedge funds and other institutional investors.
QXO Company Profile
(
Get 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.
Further Reading
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