Canton Hathaway LLC Makes New Investment in QXO, Inc. (NASDAQ:QXO)

Canton Hathaway LLC bought a new stake in QXO, Inc. (NASDAQ:QXO) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 18,200 shares of the company’s stock, valued at approximately $287,000.

Other large investors have also modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new position in shares of QXO during the third quarter worth about $41,000. Summit Trail Advisors LLC purchased a new stake in QXO in the 3rd quarter valued at approximately $1,805,000. Meridian Wealth Management LLC purchased a new stake in QXO in the 3rd quarter valued at approximately $841,000. Charles Schwab Investment Management Inc. acquired a new position in QXO during the 3rd quarter worth approximately $24,130,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of QXO during the 3rd quarter worth approximately $32,559,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

QXO stock opened at $17.48 on Monday. The company has a 50 day simple moving average of $15.26. QXO, Inc. has a 1-year low of $10.61 and a 1-year high of $290.00. The stock has a market capitalization of $7.16 billion, a P/E ratio of -1.87, a PEG ratio of 2.66 and a beta of 2.32.

Insider Buying and Selling at QXO

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 sale was disclosed in a document filed with the SEC, which is available 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.