HighTower Advisors LLC Acquires New Shares in QXO, Inc. (NASDAQ:QXO)

HighTower Advisors LLC bought a new stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 94,447 shares of the company's stock, valued at approximately $1,492,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Finepoint Capital LP purchased a new stake in QXO in the third quarter worth $406,090,000. Allspring Global Investments Holdings LLC bought a new position in shares of QXO in the 3rd quarter worth about $42,593,000. Driehaus Capital Management LLC purchased a new position in QXO during the 2nd quarter valued at about $160,859,000. Millennium Management LLC bought a new stake in QXO during the second quarter worth about $159,247,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in QXO in the third quarter worth about $32,559,000. Hedge funds and other institutional investors own 58.68% of the company's stock.

QXO Price Performance

QXO stock traded up $0.82 during trading hours on Monday, hitting $16.96. The stock had a trading volume of 1,835,439 shares, compared to its average volume of 1,149,344. The stock has a 50-day simple moving average of $15.87. The company has a market cap of $6.94 billion, a PE ratio of -1.77 and a beta of 2.32. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $290.00.

Insiders Place Their Bets

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 51.30% of the stock is owned by 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.