Meridian Wealth Management LLC Purchases New Holdings in QXO, Inc. (NASDAQ:QXO)

Meridian Wealth Management LLC acquired a new position in QXO, Inc. (NASDAQ:QXO) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 53,325 shares of the company’s stock, valued at approximately $841,000.

Several other institutional investors also recently modified their holdings of QXO. Compagnie Lombard Odier SCmA increased its stake in QXO by 2,000.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock valued at $33,000 after acquiring an additional 2,000 shares during the period. Gainplan LLC acquired a new stake in QXO during the third quarter valued at approximately $55,000. SG Americas Securities LLC bought a new stake in shares of QXO in the 3rd quarter valued at approximately $103,000. Claro Advisors LLC acquired a new position in shares of QXO in the 3rd quarter worth approximately $111,000. Finally, Diversify Wealth Management LLC bought a new position in shares of QXO during the 3rd quarter worth approximately $156,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Insider Buying and Selling at QXO

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO stock in a transaction that occurred on 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 approximately $705,975,950.05. The trade was a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 51.30% of the company’s stock.

QXO Stock Up 2.4 %

Shares of NASDAQ:QXO opened at $17.04 on Friday. The company has a fifty day moving average 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 capitalization of $6.98 billion, a PE ratio of -1.87, a price-to-earnings-growth ratio of 2.60 and a beta of 2.32.

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.