JPMorgan Chase & Co. Makes New Investment in QXO, Inc. (NASDAQ:QXO)

JPMorgan Chase & Co. purchased a new position in QXO, Inc. (NASDAQ:QXO) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 140,710 shares of the company’s stock, valued at approximately $2,219,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Finepoint Capital LP acquired a new stake in QXO during the 3rd quarter worth about $406,090,000. Geode Capital Management LLC raised its holdings in QXO by 64,992.4% during the 3rd 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 period. Allspring Global Investments Holdings LLC acquired a new position in QXO in the 3rd quarter valued at approximately $42,593,000. Driehaus Capital Management LLC purchased a new stake in QXO in the 2nd quarter worth approximately $160,859,000. Finally, Millennium Management LLC purchased a new position in QXO in the second quarter valued at about $159,247,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Down 1.9 %

NASDAQ:QXO opened at $13.73 on Wednesday. The firm has a market capitalization of $5.62 billion, a P/E ratio of -1.51, a P/E/G ratio of 3.43 and a beta of 2.32. The stock has a 50 day moving average price of $15.98. QXO, Inc. has a 52 week low of $10.61 and a 52 week high of $290.00.

Insider Buying and Selling

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the 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 transaction, the insider now owns 46,908,701 shares of the company’s stock, valued at approximately $705,975,950.05. This represents a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 51.30% of the stock is currently owned by corporate 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.