QXO (NASDAQ:QXO) Stock Price Down 2.9% – Time to Sell?

Shares of QXO, Inc. (NASDAQ:QXO) fell 2.9% during trading on Wednesday . The company traded as low as $14.73 and last traded at $14.93. 767,377 shares changed hands during trading, a decline of 47% from the average session volume of 1,444,708 shares. The stock had previously closed at $15.37.

QXO Stock Performance

The firm has a market cap of $5.74 billion, a PE ratio of -1.54, a price-to-earnings-growth ratio of 3.91 and a beta of 2.32. The stock has a fifty day simple moving average of $16.06.

Insider Buying and Selling at QXO

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 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 in the company, valued at $705,975,950.05. This represents a 12.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 51.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in QXO. Compagnie Lombard Odier SCmA lifted its position 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 in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of QXO during the third quarter valued at approximately $41,000. Gainplan LLC bought a new stake in QXO during the third quarter worth $55,000. SG Americas Securities LLC purchased a new position in QXO in the third quarter worth $103,000. Finally, Claro Advisors LLC bought a new position in QXO in the 3rd quarter valued at $111,000. 58.68% of the stock is owned by institutional investors.

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.