Silver Oak Securities Makes New Investment in QXO, Inc.

Silver Oak Securities Incorporated has entered the market by acquiring a new stake in QXO, Inc. (NASDAQ:QXO). This acquisition took place during the fourth quarter, as disclosed in its recent 13F filing with the Securities and Exchange Commission (SEC). Specifically, the firm purchased 24,242 shares of QXO, worth approximately $372,000.

In addition to Silver Oak, several other hedge funds have also adjusted their positions in QXO recently. Finepoint Capital LP initiated a new position in the third quarter, investing about $406,090,000 in QXO shares. Geode Capital Management LLC increased its holdings in QXO dramatically, growing them by 64,992.4% during the same quarter. After acquiring an additional 2,849,269 shares, Geode now owns a total of 2,853,653 QXO shares worth $45,019,000.

Other institutional investors have made significant investments in QXO as well. Allspring Global Investments Holdings LLC purchased a new position valued at around $42,593,000, while Massachusetts Financial Services Co. MA also invested in QXO with a new position worth about $32,559,000. Charles Schwab Investment Management Inc. joined in, acquiring a new position valued at around $24,130,000.

Hedge funds and institutional investors collectively own 58.68% of QXO's stock, indicating strong interest in the company.

Recent Performance of QXO Stock

As of Friday, the stock opened at $13.26. QXO, Inc. has encountered fluctuations, with a 52-week low of $10.61 and a 52-week high of $290.00. The 50-day moving average price of the stock is currently $15.23, while its 200-day moving average price sits at $17.21. QXO has a market capitalization of $5.43 billion, with a P/E ratio of -1.45 and a P/E/G ratio of 3.39. The stock also has a relatively high beta of 2.27, indicating increased volatility compared to the market.

About QXO, Inc.

QXO, Inc. is a technology-driven company operating within the business application and consulting sector in North America. The firm specializes in providing a variety of solutions aimed at enhancing efficiency in accounting and business management. Some of its offerings include financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.

Investing Insights

If you're considering investing in stocks, it may be beneficial to research a variety of options before making a decision. Market analysts frequently share recommendations based on their insights into current market trends. Despite QXO currently holding a "Hold" rating among analysts, other stocks may present better opportunities for investment.

For those looking for alternative investment strategies, consider exploring stocks that analysts recommend as strong buys before the market fully reacts.

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