Concentric Capital Strategies LP Purchases New Stake in QXO, Inc. (NASDAQ:QXO)

Concentric Capital Strategies LP acquired a new position in shares of QXO, Inc. (NASDAQ:QXO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 107,372 shares of the company’s stock, valued at approximately $1,693,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Compagnie Lombard Odier SCmA lifted its stake in shares of QXO by 2,000.0% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock worth $33,000 after buying an additional 2,000 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in QXO in the 3rd quarter valued at about $41,000. Gainplan LLC acquired a new stake in QXO during the third quarter worth approximately $55,000. Renaissance Technologies LLC bought a new stake in shares of QXO during the second quarter worth approximately $432,000. Finally, SG Americas Securities LLC acquired a new position in shares of QXO in the third quarter valued at approximately $103,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total value of $105,350,000.00. Following the completion of the sale, the insider now owns 46,908,701 shares of the company’s stock, valued at approximately $705,975,950.05. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 51.30% of the company’s stock.

QXO Stock Performance

NASDAQ:QXO opened at $17.32 on Tuesday. The business’s 50 day moving average price is $15.55. The firm has a market cap of $7.09 billion, a PE ratio of -1.90, a P/E/G ratio of 2.60 and a beta of 2.32. QXO, Inc. has a 1-year low of $10.61 and a 1-year high of $290.00.

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.