Wealth Effects LLC Acquires New Position in QXO, Inc. (NASDAQ:QXO)

Wealth Effects LLC bought a new position in shares of QXO, Inc. (NASDAQ:QXO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,000 shares of the company’s stock, valued at approximately $191,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Finepoint Capital LP bought a new position in shares of QXO in the 3rd quarter worth $406,090,000. Geode Capital Management LLC boosted its holdings in QXO by 64,992.4% during the third quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company’s stock worth $45,019,000 after buying an additional 2,849,269 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of QXO during the 3rd quarter worth about $42,593,000. Massachusetts Financial Services Co. MA bought a new stake in shares of QXO in the 3rd quarter valued at about $32,559,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of QXO in the 3rd quarter valued at approximately $24,130,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

Shares of NASDAQ QXO opened at $13.40 on Wednesday. QXO, Inc. has a 52-week low of $10.61 and a 52-week high of $290.00. The stock has a market cap of $5.48 billion, a P/E ratio of 3.42, a P/E/G ratio of 3.50 and a beta of 2.32. The firm has a 50 day moving average price of $15.80 and a 200 day moving average price of $19.51.

Insider Transactions at QXO

In other 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 sale, the insider now owns 46,908,701 shares of the company’s stock, valued at $705,975,950.05. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 51.30% of the company’s stock.

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.