QXO (NASDAQ:QXO) Shares Gap Down – Here’s What Happened

QXO, Inc. (NASDAQ:QXO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $16.22, but opened at $15.66. QXO shares last traded at $16.15, with a volume of 136,159 shares changing hands.

QXO Price Performance

The firm has a market cap of $6.24 billion, a price-to-earnings ratio of -1.28, a PEG ratio of 2.53 and a beta of 2.32. The company’s 50-day moving average is $15.09.

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

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 46,908,701 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 51.30% of the stock is owned by company insiders.

Institutional Trading of QXO

Several large investors have recently made changes to their positions in QXO. Compagnie Lombard Odier SCmA grew its holdings in QXO by 2,000.0% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock valued at $33,000 after buying an additional 2,000 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in QXO in the 3rd quarter valued at $41,000. Gainplan LLC purchased a new stake in QXO in the 3rd quarter valued at $55,000. SG Americas Securities LLC purchased a new stake in QXO in the 3rd quarter valued at $103,000. Finally, Claro Advisors LLC purchased a new stake in QXO in the 3rd quarter valued at $111,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

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.