QXO (NASDAQ:QXO) Trading Up 4.7%

QXO, Inc. (NASDAQ:QXO) shares shot up 4.7% on Monday . The stock traded as high as $15.82 and last traded at $15.79. 920,324 shares changed hands during trading, an increase of 6% from the average session volume of 865,539 shares. The stock had previously closed at $15.08.

QXO Stock Up 3.0 %

The firm has a market cap of $6.36 billion, a PE ratio of -8.82, a price-to-earnings-growth ratio of 2.15 and a beta of 2.31. The business’s 50 day moving average is $26.12.

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

Insider Buying and Selling

In other 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 value of $11,978,204.70. Following the sale, the insider now owns 53,908,701 shares in the company, valued at $811,325,950.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 90.60% of the company’s stock.

Institutional Trading of QXO

A number of hedge funds have recently modified their holdings of QXO. Driehaus Capital Management LLC acquired a new position in shares of QXO in the second quarter valued at $160,859,000. Millennium Management LLC acquired a new position in shares of QXO in the 2nd quarter valued at $159,247,000. Finally, Renaissance Technologies LLC bought a new position in shares of QXO during the 2nd quarter worth about $432,000. Institutional investors own 58.68% 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.