Millennium Management LLC Acquires New Shares in QXO, Inc. (NASDAQ:QXO)

Millennium Management LLC bought a new position in shares of QXO, Inc. (NASDAQ:QXO) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 2,219,158 shares of the company’s stock, valued at approximately $159,247,000. Millennium Management LLC owned about 3.34% of QXO as of its most recent filing with the Securities & Exchange Commission.

Separately, Renaissance Technologies LLC acquired a new position in QXO in the 2nd quarter worth $432,000. 58.68% of the stock is owned by institutional investors.

QXO Price Performance

QXO opened at $15.73 on Friday. The firm has a market cap of $6.44 billion, a P/E ratio of -8.94, a price-to-earnings-growth ratio of 2.46 and a beta of 2.31. The firm has a 50-day moving average price of $22.42. QXO, Inc. has a 1 year low of $10.61 and a 1 year high of $290.00.

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

Insider Transactions at QXO

In related news, major shareholder Mfn Partners, Lp sold 795,894 shares of QXO stock in a transaction dated Monday, August 26th. The stock was 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 of the company’s stock, valued at $811,325,950.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 90.60% 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.