Stifel Financial Corp Makes New Investment in QXO, Inc. (NASDAQ:QXO)

Stifel Financial Corp has made a strategic move by acquiring a new stake in QXO, Inc. (NASDAQ:QXO) during the third quarter, as disclosed recently to the Securities & Exchange Commission. In its latest filing, Stifel revealed that it bought 36,013 shares of QXO stock, an investment totaling around $568,000.

Along with Stifel, other institutional investors have also recently adjusted their holdings of QXO. For instance, Point72 Asset Management L.P. initiated a new position in QXO valued at approximately $2,912,000 during the same quarter. Similarly, Hauser Brothers GmbH acquired shares worth $1,577,000, and HighTower Advisors LLC invested $1,492,000 in QXO. Concentric Capital Strategies LP and Arizona PSPRS Trust also bought new stakes, with their investments valued at $1,693,000 and $2,099,000, respectively. Overall, institutional investors now own 58.68% of QXO’s stock.

Insider Transactions

In related news, significant insider activity has been reported. Major shareholder Mfn Partners, Lp sold off 7,000,000 shares of QXO on November 6th at an average price of $15.05, totaling about $105,350,000. Following this transaction, Mfn Partners now holds 46,908,701 shares, which are valued at approximately $705,975,950. This sale represents a reduction of 12.98% in their stake in the company. The transaction has been documented in a filing with the SEC, which is publicly accessible. Currently, insiders hold 51.30% of the company's stock.

Performance of QXO Shares

As of the most recent trading session, QXO shares opened at $15.88. The company boasts a market capitalization of $6.50 billion and has a P/E ratio of -1.74, alongside a beta value of 2.32. The stock has experienced varied performance, with a 50-day moving average price of $16.00. Notably, QXO's shares have fluctuated significantly, reaching a fifty-two week low of $10.61 and a high of $290.00.

Overview of QXO, Inc.

QXO, Inc. operates as a business application, technology, and consulting firm based in North America. The company specializes in providing solutions in various areas such as accounting, business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.

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Interested in further insights regarding QXO? For more detailed information, you can visit HoldingsChannel.com for the latest institutional filings and insider transaction reports concerning QXO, Inc. (NASDAQ:QXO).

Investment, Stocks, Institutional