Shares of QXO (NASDAQ:QXO) rose 4.7%

Shares of QXO, Inc. (NASDAQ:QXO – Get Your Free Report ) was up 4.7% during mid-day trading on Monday. The company traded as high as $15.82 and last traded at $15.79. About 920,324 shares traded hands during mid-day trading, up 6% from the average daily volume of 865,539 shares. Shares previously closed at $15.08.

QXO stock performance

The firm has a 50-day moving average of $26.12. The company has a market cap of $6.36 billion, a price-to-earnings ratio of -8.82, a P/E/G ratio of 2.15 and a beta of 2.31.

QXO (NASDAQ:QXO – Get Your Free Report ) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $3.22 earnings per share (EPS) for the quarter. QXO had a positive return on equity of 0.51% and a negative net margin of 3.75%. The company had revenue of $14.54 million during the quarter. Research analysts anticipate that QXO, Inc. will post 0.32 EPS for the current fiscal year.

Insider buying and selling at QXO

In related news, major shareholder Mfn Partners, Lp sold 795,894 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $15.05, for a total transaction of $11,978,204.70. Following the completion of the sale, the insider now directly owns 53,908,701 shares of the company’s stock, valued at approximately $811,325,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Company insiders own 90.60% of the company’s shares.

Hedge funds influence QXO

A number of institutional investors have recently modified their holdings of QXO. Driehaus Capital Management LLC acquired a new stake in QXO in the second quarter valued at about $160,859,000. Millennium Management LLC bought a new position in shares of QXO in the second quarter valued at about $159,247,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of QXO during the second quarter valued at about $432,000. 58.68% of shares are owned by institutional investors.

About QXO

(Get a free report)

QXO, Inc operates as a business applications, 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.

Further reading

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