Mfn Partners, Lp Sells 7,000,000 Shares of QXO, Inc. (NASDAQ:QXO) Stock

QXO, Inc. (NASDAQ:QXO) major shareholder Mfn Partners, Lp sold 7,000,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 46,908,701 shares of the company’s stock, valued at $705,975,950.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 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 Stock Performance

QXO stock opened at $16.05 on Friday. The firm’s 50 day moving average is $14.94. The firm has a market cap of $6.57 billion, a P/E ratio of -1.30, a price-to-earnings-growth ratio of 2.38 and a beta of 2.32. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $290.00.

QXO (NASDAQ:QXO) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $3.22 earnings per share (EPS) for the quarter. The firm had revenue of $14.54 million during the quarter. QXO had a positive return on equity of 0.51% and a negative net margin of 3.75%. As a group, equities research analysts expect that QXO, Inc. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On QXO

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in QXO during the second quarter worth about $432,000. Millennium Management LLC purchased a new position in QXO during the second quarter worth $159,247,000. Driehaus Capital Management LLC acquired a new position in shares of QXO in the second quarter worth $160,859,000. SG Americas Securities LLC purchased a new stake in shares of QXO in the third quarter valued at $103,000. Finally, Gainplan LLC acquired a new stake in shares of QXO during the third quarter valued at $55,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Company 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.