Point72 Asset Management L.P. Acquires New Stake in QXO, Inc. (NASDAQ:QXO)

Point72 Asset Management L.P. acquired a new stake in QXO, Inc. (NASDAQ:QXO) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 184,636 shares of the company’s stock, valued at approximately $2,912,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA raised its stake in QXO by 2,000.0% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock valued at $33,000 after purchasing an additional 2,000 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in QXO in the 3rd quarter valued at $41,000. Gainplan LLC purchased a new stake in QXO in the 3rd quarter valued at $55,000. SG Americas Securities LLC purchased a new stake in QXO in the 3rd quarter valued at $103,000. Finally, Claro Advisors LLC purchased a new stake in QXO in the 3rd quarter valued at $111,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Trading Down 7.1 %

Shares of NASDAQ:QXO opened at $16.16 on Tuesday. The company has a fifty day moving average of $15.71. The stock has a market cap of $6.62 billion, a PE ratio of -1.77 and a beta of 2.32. QXO, Inc. has a 52-week low of $10.61 and a 52-week high of $290.00.

Insider Buying and Selling at QXO

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the stock in a transaction on 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 transaction, the insider now directly owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. This represents a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 51.30% of the stock is 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.