Finepoint Capital LP Invests $406.09 Million in QXO, Inc. (NASDAQ:QXO)

Finepoint Capital LP bought a new stake in shares of QXO, Inc. (NASDAQ:QXO) during the 3rd quarter, Holdings Channel.com reports. The firm bought 25,750,781 shares of the company’s stock, valued at approximately $406,090,000. QXO comprises approximately 29.5% of Finepoint Capital LP’s holdings, making the stock its largest position. Finepoint Capital LP owned approximately 0.06% of QXO as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in QXO. Allspring Global Investments Holdings LLC purchased a new stake in shares of QXO during the third quarter valued at approximately $42,593,000. Driehaus Capital Management LLC acquired a new stake in QXO during the 2nd quarter valued at $160,859,000. Millennium Management LLC acquired a new stake in QXO during the 2nd quarter valued at $159,247,000. Massachusetts Financial Services Co. MA purchased a new stake in QXO during the 3rd quarter worth $32,559,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in QXO in the 3rd quarter worth $24,130,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Trading Up 2.5 %

NASDAQ:QXO opened at $17.46 on Tuesday. The firm has a 50-day moving average price of $15.34. The stock has a market cap of $7.15 billion, a PE ratio of -1.91, a P/E/G ratio of 2.66 and a beta of 2.32. QXO, Inc. has a 1-year low of $10.61 and a 1-year high of $290.00.

Insider Activity at QXO

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total transaction of $105,350,000.00. Following the completion of the transaction, the insider now directly owns 46,908,701 shares of the company’s stock, valued at $705,975,950.05. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 51.30% of the stock is currently owned by company insiders.

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.