Wealth Enhancement Advisory Services LLC Purchases New Stake in QXO, Inc. (NASDAQ:QXO)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of QXO, Inc. (NASDAQ:QXO) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 59,204 shares of the company’s stock, valued at approximately $934,000.

Several other institutional investors and hedge funds have also made changes to their positions in QXO. Renaissance Technologies LLC bought a new position in QXO during the 2nd quarter worth $432,000. Millennium Management LLC bought a new position in QXO during the 2nd quarter worth $159,247,000. Driehaus Capital Management LLC bought a new position in QXO during the 2nd quarter worth $160,859,000. SG Americas Securities LLC bought a new position in QXO during the 3rd quarter worth $103,000. Finally, Gainplan LLC bought a new position in QXO during the 3rd quarter worth $55,000. 58.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QXO

In related news, major shareholder Mfn Partners, Lp sold 795,894 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 53,908,701 shares of the company’s stock, valued at $811,325,950.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 90.60% of the company’s stock.

QXO Stock Performance

Shares of QXO opened at $15.39 on Wednesday. The company has a market cap of $6.30 billion, a P/E ratio of -1.25, a P/E/G ratio of 2.38 and a beta of 2.32. The stock’s fifty day moving average is $14.83. QXO, Inc. has a 12 month low of $10.61 and a 12 month high of $290.00.

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

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.