Silver Oak Securities Incorporates New Stake in QXO, Inc.

During the fourth quarter, Silver Oak Securities Incorporated acquired a new stake in QXO, Inc. (NASDAQ:QXO - Free Report), as reported in its latest 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,242 shares of the company's stock, with a total value of approximately $372,000.

In addition to Silver Oak Securities, several hedge funds have recently adjusted their positions in QXO. Finepoint Capital LP invested significantly in QXO during the third quarter, acquiring a new position worth about $406,090,000. Meanwhile, Geode Capital Management LLC expanded its holdings by an astonishing 64,992.4% in the same quarter, now owning 2,853,653 shares valued at around $45,019,000 after acquiring an additional 2,849,269 shares. Furthermore, Allspring Global Investments Holdings LLC also entered a new stake in QXO during the third quarter, amounting to about $42,593,000, while Massachusetts Financial Services Co. MA purchased shares worth approximately $32,559,000. Lastly, Charles Schwab Investment Management Inc. made a notable entry, investing around $24,130,000 in new positions in QXO. Currently, hedge funds and other institutional investors hold 58.68% of the company's stock.

Market Performance of QXO

As of Friday, NASDAQ QXO opened at $13.26. The stock has experienced a 52-week low and high of $10.61 and $290.00, respectively. The 50-day moving average price for QXO is $15.23, while the 200-day moving average stands at $17.21. The company has a market capitalization of $5.43 billion, a P/E ratio of -1.45, a P/E/G ratio of 3.39, and a beta of 2.27, indicating its volatility in the market.

Overview of QXO, Inc.

QXO, Inc. operates primarily as a business application, technology, and consulting company within North America. The firm specializes in providing comprehensive solutions aimed at improving accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.

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