Brown Brothers Harriman & Co. Purchases Shares of 2,623 QXO, Inc. (NASDAQ:QXO)

Brown Brothers Harriman & Co. acquired a new stake in QXO, Inc. (NASDAQ:QXO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,623 shares of the company’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compagnie Lombard Odier SCmA increased its holdings in 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 purchasing an additional 2,000 shares during the period. Gainplan LLC bought a new stake in shares of QXO in the 3rd quarter worth approximately $55,000. SG Americas Securities LLC purchased a new position in shares of QXO during the third quarter valued at approximately $103,000. Claro Advisors LLC bought a new position in shares of QXO during the third quarter valued at approximately $111,000. Finally, Diversify Wealth Management LLC purchased a new stake in QXO in the third quarter worth $156,000. 58.68% of the stock is owned by institutional investors.

QXO Trading Down 6.7 %

Shares of QXO stock opened at $16.78 on Friday. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $290.00. The stock has a market cap of $6.87 billion, a P/E ratio of -1.84, a P/E/G ratio of 2.73 and a beta of 2.32. The firm’s fifty day moving average is $15.49.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 46,908,701 shares in the company, valued at $705,975,950.05. This trade represents a 12.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 51.30% of the company’s stock.

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.