MFN Partners Management LP Sells 8,657,851 Shares of QXO, Inc. $QXO

Key Points

• MFN Partners sold 8,657,851 shares of QXO in Q3, cutting its position by 18.5% to 38,250,850 shares (about a 5.67% stake worth $729.06M), making QXO its third-largest holding.
• Several large investors added or initiated positions—most notably Vanguard (up 91% to 47,192,412 shares) and new/expanded stakes from Alpha Wave, Affinity Partners and others—leaving institutional ownership at about 58.68%.
• QXO trades around $21.57 with a market cap of $15.28 billion and a negative PE (-36.55); it missed EPS by $0.01 last quarter, and analysts hold a consensus "Moderate Buy" with an average target of $32.43.

MFN Partners Management LP decreased its position in QXO, Inc. (NYSE:QXO - Free Report) by 18.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,250,850 shares of the company's stock after selling 8,657,851 shares during the quarter. QXO comprises approximately 14.7% of MFN Partners Management LP's holdings, making the stock its 3rd largest position. MFN Partners Management LP owned approximately 5.67% of QXO worth $729,061,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Alpha Wave Global LP acquired a new position in shares of QXO in the second quarter worth about $525,366,000. Vanguard Group Inc. lifted its position in shares of QXO by 91.0% in the 2nd quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company's stock valued at $1,016,525,000 after acquiring an additional 22,484,977 shares in the last quarter. Affinity Partners GP LP lifted its position in shares of QXO by 99.1% in the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company's stock valued at $703,745,000 after acquiring an additional 16,260,163 shares in the last quarter. Schf GPE LLC boosted its stake in QXO by 204.3% in the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company's stock worth $286,901,000 after purchasing an additional 8,943,089 shares during the period. Finally, Hood River Capital Management LLC purchased a new position in QXO during the 2nd quarter worth approximately $178,836,000. Institutional investors own 58.68% of the company's stock.

QXO Trading Down 0.6%

Shares of NYSE:QXO opened at $21.57 on Wednesday. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $15.28 billion, a PE ratio of -36.55, a P/E/G ratio of 3.46 and a beta of 2.51. QXO, Inc. has a 1 year low of $11.97 and a 1 year high of $27.61. The firm has a fifty day moving average price of $23.73 and a 200 day moving average price of $21.05.

QXO (NYSE:QXO - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. The business's quarterly revenue was up 14725.0% compared to the same quarter last year. Analysts expect that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Analyst Ratings Changes

QXO has been the topic of several recent analyst reports. Citigroup reduced their target price on QXO from $33.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, January 8th. Wall Street Zen downgraded QXO from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Royal Bank Of Canada set a $30.00 price objective on QXO in a research report on Friday, January 9th. Weiss Ratings reiterated a "sell (d+)" rating on shares of QXO in a report on Monday, December 29th. Finally, Benchmark reissued a "buy" rating on shares of QXO in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $32.43.

QXO 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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.

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