Deltec Asset Management LLC Purchases New Holdings in QXO, Inc. (NASDAQ:QXO)

Deltec Asset Management LLC acquired a new position in shares of QXO, Inc. (NASDAQ:QXO) in the third quarter, Holdings Channel reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $158,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of QXO during the third quarter worth approximately $42,593,000. Driehaus Capital Management LLC acquired a new stake in shares of QXO in the 2nd quarter worth $160,859,000. Millennium Management LLC purchased a new stake in shares of QXO in the second quarter valued at about $159,247,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of QXO during the third quarter worth about $934,000. Finally, Jade Capital Advisors LLC purchased a new position in QXO during the third quarter worth about $473,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Price Performance

Shares of QXO opened at $15.34 on Wednesday. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of -1.25, a PEG ratio of 2.36 and a beta of 2.31. The firm has a 50 day simple moving average of $14.72. QXO, Inc. has a twelve month low of $10.61 and a twelve month high of $290.00.

QXO (NASDAQ:QXO) last released its quarterly earnings data on Wednesday, August 14th. The company reported $3.22 earnings per share (EPS) for the quarter. The firm had revenue of $14.54 million during the quarter. QXO had a positive return on equity of 0.51% and a negative net margin of 3.75%. On average, equities analysts predict that QXO, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity

In other QXO news, major shareholder Mfn Partners, Lp sold 795,894 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $15.05, for a total transaction of $11,978,204.70. Following the transaction, the insider now directly owns 53,908,701 shares in the company, valued at approximately $811,325,950.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 90.60% of the company’s stock.

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.