Point72 Asset Management L.P. Invests $2.91 Million in QXO, Inc. (NASDAQ:QXO)

Point72 Asset Management L.P. purchased a new position in shares of QXO, Inc. (NASDAQ:QXO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 184,636 shares of the company’s stock, valued at approximately $2,912,000.

A number of other hedge funds have also modified their holdings of the business. Compagnie Lombard Odier SCmA boosted its holdings in QXO by 2,000.0% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock valued at $33,000 after acquiring an additional 2,000 shares during the period. Brown Brothers Harriman & Co. purchased a new position in QXO during the 3rd quarter valued at about $41,000. Gainplan LLC purchased a new position in QXO during the 3rd quarter valued at about $55,000. SG Americas Securities LLC purchased a new position in QXO during the 3rd quarter valued at about $103,000. Finally, Claro Advisors LLC purchased a new position in QXO during the 3rd quarter valued at about $111,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Stock Down 7.1 %

Shares of QXO stock opened at $16.16 on Tuesday. The firm’s 50-day moving average price is $15.71. QXO, Inc. has a 12 month low of $10.61 and a 12 month high of $290.00. The stock has a market cap of $6.62 billion, a PE ratio of -1.77 and a beta of 2.32.

Insider Activity at QXO

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.05, for a total value of $105,350,000.00. Following the completion of the transaction, the insider now 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 filing with the SEC, which can be accessed through the SEC website. 51.30% of the stock is currently owned by company insiders.

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.