The Manufacturers Life Insurance Company Buys New Position in QXO, Inc. (NASDAQ:QXO)

The Manufacturers Life Insurance Company purchased a new position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 96,520 shares of the company's stock, valued at approximately $1,522,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Compagnie Lombard Odier SCmA raised its position in QXO by 2,000.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company's stock valued at $33,000 after purchasing an additional 2,000 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of QXO during the 3rd quarter worth approximately $41,000. Gainplan LLC purchased a new position in shares of QXO in the 3rd quarter worth about $55,000. SG Americas Securities LLC purchased a new position in shares of QXO during the 3rd quarter valued at $103,000. Finally, Claro Advisors LLC purchased a new position in shares of QXO in the third quarter valued at $111,000. 58.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.05, for a total value of $105,350,000.00. Following the completion of the transaction, the insider now directly owns 46,908,701 shares of the company's stock, valued at approximately $705,975,950.05. The trade was a 12.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 51.30% of the company's stock.

QXO Stock Up 0.6 %

QXO traded up $0.10 during midday trading on Wednesday, reaching $16.40. 1,180,160 shares of the company's stock traded hands, compared to its average volume of 1,145,656. The firm has a fifty day moving average price of $15.74. The company has a market cap of $6.71 billion, a PE ratio of -1.79 and a beta of 2.32. QXO, Inc. has a 52 week low of $10.61 and a 52 week high of $290.00.

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.