Gainplan LLC Raises Position in QXO, Inc. (NASDAQ:QXO)

Gainplan LLC grew its stake in QXO, Inc. (NASDAQ:QXO) by 5,365.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,280 shares of the company’s stock after purchasing an additional 187,780 shares during the quarter. QXO makes up about 1.2% of Gainplan LLC’s holdings, making the stock its 11th largest position. Gainplan LLC’s holdings in QXO were worth $3,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of QXO. Finepoint Capital LP bought a new position in shares of QXO during the 3rd quarter worth approximately $406,090,000. Geode Capital Management LLC boosted its position in QXO by 64,992.4% in the third quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company’s stock worth $45,019,000 after purchasing an additional 2,849,269 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in QXO in the 3rd quarter valued at $42,593,000. Driehaus Capital Management LLC purchased a new stake in shares of QXO during the 2nd quarter valued at $160,859,000. Finally, Millennium Management LLC purchased a new position in shares of QXO in the 2nd quarter worth about $159,247,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 46,908,701 shares of the company’s stock, valued at $705,975,950.05. This represents a 12.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 51.30% of the company’s stock.

QXO Price Performance

NASDAQ QXO opened at $15.36 on Tuesday. The stock has a market capitalization of $6.29 billion, a P/E ratio of -1.68 and a beta of 2.32. QXO, Inc. has a 52-week low of $10.61 and a 52-week high of $290.00. The stock’s 50-day moving average is $16.11.

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.