HighTower Advisors LLC Invests $1.49 Million in QXO, Inc. (NASDAQ:QXO)

HighTower Advisors LLC acquired a new position in shares of QXO, Inc. (NASDAQ:QXO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 94,447 shares of the company’s stock, valued at approximately $1,492,000.

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

QXO Trading Up 0.9 %

NASDAQ:QXO opened at $16.14 on Monday. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of -1.77 and a beta of 2.32. The firm has a 50 day moving average price of $15.87. QXO, Inc. has a 1-year low of $10.61 and a 1-year high of $290.00.

Insiders Place Their Bets

In related news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.05, for a total transaction 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 represents 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. 51.30% of the stock is owned by corporate insiders.

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.