Orion Portfolio Solutions LLC Takes $963,000 Position in QXO, Inc. (NASDAQ:QXO)

Orion Portfolio Solutions LLC bought a new position in shares of QXO, Inc. (NASDAQ:QXO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 61,078 shares of the company’s stock, valued at approximately $963,000.

Several other institutional investors also recently bought and sold shares of the business. Finepoint Capital LP purchased a new position in QXO during the third quarter worth approximately $406,090,000. Driehaus Capital Management LLC acquired a new position in shares of QXO in the 2nd quarter valued at about $160,859,000. Summit Trail Advisors LLC purchased a new stake in shares of QXO during the 3rd quarter worth about $1,805,000. Concentric Capital Strategies LP acquired a new stake in QXO during the 3rd quarter worth approximately $1,693,000. Finally, Empirical Capital Management LLC purchased a new position in QXO in the third quarter valued at approximately $473,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 directly owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 51.30% of the company’s stock.

QXO Trading Up 0.9 %

Shares of QXO stock opened at $16.14 on Monday. QXO, Inc. has a fifty-two week low of $10.61 and a fifty-two week high of $290.00. The firm’s 50 day simple moving average is $15.87. The firm has a market capitalization of $6.61 billion, a PE ratio of -1.77 and a beta of 2.32.

About QXO

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.