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

Brown Brothers Harriman & Co. purchased a new position in QXO, Inc. (NASDAQ:QXO) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,623 shares of the company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in QXO. Renaissance Technologies LLC bought a new position in QXO in the 2nd quarter worth about $432,000. Millennium Management LLC bought a new position in shares of QXO in the second quarter worth approximately $159,247,000. Driehaus Capital Management LLC purchased a new stake in shares of QXO during the second quarter valued at approximately $160,859,000. SG Americas Securities LLC bought a new stake in shares of QXO during the third quarter valued at approximately $103,000. Finally, Gainplan LLC purchased a new position in QXO in the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Insider Activity

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total transaction of $105,350,000.00. Following the transaction, the insider now owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. This represents a 12.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 51.30% of the company’s stock.

QXO Price Performance

QXO stock opened at $16.78 on Friday. The company has a market cap of $6.87 billion, a PE ratio of -1.84, a PEG ratio of 2.73 and a beta of 2.32. The company has a 50 day simple moving average of $15.49. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $290.00.

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.