HighTower Advisors LLC Purchases Shares of 94,447 QXO, Inc. (NASDAQ:QXO)

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

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Finepoint Capital LP purchased a new stake in QXO during the third quarter valued at about $406,090,000. Driehaus Capital Management LLC purchased a new stake in shares of QXO during the 2nd quarter worth about $160,859,000. Summit Trail Advisors LLC purchased a new stake in shares of QXO during the 3rd quarter worth about $1,805,000. Concentric Capital Strategies LP acquired a new stake in QXO during the 3rd quarter worth approximately $1,693,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in QXO in the third quarter valued at approximately $42,593,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $105,350,000.00. Following the completion of the sale, the insider now owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. This trade represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 51.30% of the company’s stock.

QXO Trading Up 0.9 %

Shares of QXO stock opened at $16.14 on Monday. QXO, Inc. has a fifty-two week low of $10.61 and a fifty-two week high of $290.00. The firm’s 50 day simple moving average is $15.87. The firm has a market capitalization of $6.61 billion, a PE ratio of -1.77 and a beta of 2.32.

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.