Claro Advisors LLC Buys Shares of 7,018 QXO, Inc. (NASDAQ:QXO)

Claro Advisors LLC acquired a new position in QXO, Inc. (NASDAQ:QXO) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 7,018 shares of the company’s stock, valued at approximately $111,000.

Several other institutional investors have also recently made changes to their positions in QXO. Compagnie Lombard Odier SCmA raised its stake in shares of QXO by 2,000.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock worth $33,000 after buying an additional 2,000 shares during the period. Gainplan LLC bought a new position in shares of QXO in the third quarter worth about $55,000. SG Americas Securities LLC bought a new position in shares of QXO in the third quarter worth about $103,000. Willis Investment Counsel bought a new position in shares of QXO in the third quarter worth about $237,000. Finally, Renaissance Technologies LLC bought a new position in shares of QXO in the second quarter worth about $432,000. Institutional investors own 58.68% of the company’s stock.

QXO Price Performance

NASDAQ:QXO opened at $15.40 on Monday. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $290.00. The stock’s 50-day simple moving average is $14.22. The stock has a market capitalization of $6.31 billion, a PE ratio of -8.75, a P/E/G ratio of 2.49 and a beta of 2.31.

QXO (NASDAQ:QXO) last released its earnings results on Wednesday, August 14th. The company reported $3.22 earnings per share (EPS) for the quarter. QXO had a positive return on equity of 0.51% and a negative net margin of 3.75%. The firm had revenue of $14.54 million during the quarter. Research analysts predict that QXO, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 795,894 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $15.05, for a total transaction of $11,978,204.70. Following the completion of the sale, the insider now owns 53,908,701 shares in the company, valued at approximately $811,325,950.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 90.60% of the stock is currently owned by company insiders.

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.