Canton Hathaway LLC Acquires Shares of 18,200 QXO, Inc. (NASDAQ:QXO)

Canton Hathaway LLC bought a new position in shares of QXO, Inc. (NASDAQ:QXO) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 18,200 shares of the company’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QXO. Allspring Global Investments Holdings LLC acquired a new position in shares of QXO during the 3rd quarter worth approximately $42,593,000. Driehaus Capital Management LLC acquired a new position in shares of QXO during the 2nd quarter valued at about $160,859,000. Millennium Management LLC purchased a new stake in shares of QXO in the second quarter valued at about $159,247,000. Massachusetts Financial Services Co. MA purchased a new position in QXO during the third quarter worth about $32,559,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in QXO during the third quarter worth about $24,130,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the 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 sale, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 51.30% of the company’s stock.

QXO Stock Performance

QXO stock opened at $17.48 on Monday. The stock has a market cap of $7.16 billion, a PE ratio of -1.87, a price-to-earnings-growth ratio of 2.66 and a beta of 2.32. The company has a 50 day moving average price of $15.26. QXO, Inc. has a 1-year low of $10.61 and a 1-year high of $290.00.

QXO Company 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.