Orion Portfolio Solutions LLC Purchases New Stake in QXO, Inc. (NASDAQ:QXO)

Orion Portfolio Solutions LLC acquired a new stake in shares of QXO, Inc. (NASDAQ:QXO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 61,078 shares of the company’s stock, valued at approximately $963,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Finepoint Capital LP acquired a new stake in shares of QXO during the 3rd quarter valued at approximately $406,090,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of QXO during the third quarter worth $42,593,000. Driehaus Capital Management LLC bought a new position in shares of QXO in the 2nd quarter worth about $160,859,000. Millennium Management LLC acquired a new position in shares of QXO in the 2nd quarter valued at about $159,247,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of QXO during the 3rd quarter valued at about $32,559,000. 58.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the business’s 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 directly owns 46,908,701 shares of the company’s stock, valued at $705,975,950.05. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 51.30% of the company’s stock.

QXO Trading Up 0.9 %

QXO opened at $16.14 on Monday. The stock’s 50-day simple moving average is $15.87. QXO, Inc. has a fifty-two week low of $10.61 and a fifty-two week high of $290.00. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of -1.77 and a beta of 2.32.

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.