Summit Trail Advisors LLC Makes New Investment in QXO, Inc. (NASDAQ:QXO)

Summit Trail Advisors LLC bought a new stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 114,470 shares of the company's stock, valued at approximately $1,805,000.

Several other hedge funds have also recently added to or reduced their stakes in QXO. Meridian Wealth Management LLC bought a new stake in shares of QXO during the 3rd quarter worth about $841,000. Charles Schwab Investment Management Inc. acquired a new position in shares of QXO during the third quarter valued at approximately $24,130,000. Massachusetts Financial Services Co. MA acquired a new position in shares of QXO during the third quarter valued at approximately $32,559,000. Landscape Capital Management L.L.C. bought a new stake in QXO during the third quarter worth approximately $622,000. Finally, Claro Advisors LLC acquired a new stake in QXO in the third quarter worth approximately $612,000. Institutional investors own 58.68% of the company's stock.

QXO Trading Up 2.5 %

Shares of QXO stock traded up $0.42 during mid-day trading on Monday, hitting $17.46. 8,363,150 shares of the stock traded hands, compared to its average volume of 1,098,172. QXO, Inc. has a twelve month low of $10.61 and a twelve month high of $290.00. The stock's 50-day simple moving average is $15.26. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of -1.87, a price-to-earnings-growth ratio of 2.66 and a beta of 2.32.

Insider Activity at QXO

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO 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 owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. The trade was a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 51.30% of the company's stock.

About QXO

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.