Charles Schwab Investment Management Inc. Takes Position in QXO, Inc. (NASDAQ:QXO)

Charles Schwab Investment Management Inc. acquired a new position in shares of QXO, Inc. (NASDAQ:QXO) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 1,530,151 shares of the company’s stock, valued at approximately $24,130,000. Charles Schwab Investment Management Inc. owned 0.37% of QXO at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA lifted its holdings in shares of QXO by 2,000.0% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock valued at $33,000 after acquiring an additional 2,000 shares in the last quarter. Gainplan LLC bought a new stake in shares of QXO in the 3rd quarter worth $55,000. SG Americas Securities LLC bought a new stake in QXO in the third quarter worth about $103,000. Claro Advisors LLC bought a new position in shares of QXO during the 3rd quarter valued at about $111,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of QXO in the third quarter worth approximately $156,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Down 1.9 %

Shares of NASDAQ:QXO opened at $17.10 on Friday. The firm has a market capitalization of $7.00 billion, a PE ratio of -1.88 and a beta of 2.32. The business has a 50-day moving average of $15.67. QXO, Inc. has a fifty-two week low of $10.61 and a fifty-two week high of $290.00.

Insiders Place Their Bets

In related news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO stock in a transaction dated 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 sale, the insider now directly owns 46,908,701 shares in the company, valued at $705,975,950.05. This trade represents a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 51.30% of the company’s stock.

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.