Allspring Global Investments Holdings LLC Takes Position in QXO, Inc. (NASDAQ:QXO)

Allspring Global Investments Holdings LLC acquired a new position in shares of QXO, Inc. (NASDAQ:QXO) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,700,866 shares of the company’s stock, valued at approximately $42,593,000. Allspring Global Investments Holdings LLC owned approximately 0.66% of QXO at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Claro Advisors LLC purchased a new stake in QXO in the 3rd quarter worth approximately $111,000. Willis Investment Counsel acquired a new stake in shares of QXO during the third quarter worth $237,000. Compagnie Lombard Odier SCmA grew its position in shares of QXO by 2,000.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock valued at $33,000 after purchasing an additional 2,000 shares during the period. Gainplan LLC acquired a new position in QXO in the third quarter valued at $55,000. Finally, SG Americas Securities LLC purchased a new position in QXO during the third quarter worth about $103,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Down 1.2 %

QXO opened at $15.25 on Wednesday. QXO, Inc. has a 12 month low of $10.61 and a 12 month high of $290.00. The company has a 50-day simple moving average of $14.39. The stock has a market cap of $6.24 billion, a PE ratio of -8.66, a price-to-earnings-growth ratio of 2.41 and a beta of 2.31.

QXO (NASDAQ:QXO) last released its earnings results on Wednesday, August 14th. The company reported $3.22 earnings per share (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 for the quarter. Equities research analysts predict that QXO, Inc. will post 0.32 EPS for the current year.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 795,894 shares of the company’s stock in a transaction on Monday, August 26th. The stock was 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 in the company, valued at $811,325,950.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 90.60% of the company’s stock.

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.