CIBC Asset Management Inc Acquires Shares of 11,813 QXO, Inc. (NASDAQ:QXO)

CIBC Asset Management Inc bought a new position in shares of QXO, Inc. (NASDAQ:QXO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,813 shares of the company’s stock, valued at approximately $186,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in QXO during the third quarter worth $42,593,000. Driehaus Capital Management LLC purchased a new stake in shares of QXO during the 2nd quarter worth $160,859,000. Millennium Management LLC bought a new stake in QXO during the second quarter valued at about $159,247,000. Wealth Enhancement Advisory Services LLC purchased a new position in QXO in the third quarter valued at about $934,000. Finally, Jade Capital Advisors LLC bought a new position in QXO in the third quarter worth about $473,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Up 2.4 %

NASDAQ:QXO opened at $17.04 on Friday. The firm has a 50-day moving average price of $15.26. QXO, Inc. has a fifty-two week low of $10.61 and a fifty-two week high of $290.00. The company has a market cap of $6.98 billion, a PE ratio of -1.87, a P/E/G ratio of 2.60 and a beta of 2.32.

Insider Activity at QXO

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the firm’s 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 of the company’s stock, 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 can be accessed through the SEC website. 51.30% of the stock is currently owned by corporate insiders.

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.