Stifel Financial Corp Expands Investment in QXO, Inc.

Stifel Financial Corp has recently made a notable investment in QXO, Inc. (NASDAQ:QXO) during the third quarter of 2024, as reported in a disclosure submitted to the Securities & Exchange Commission. The institutional investor acquired a total of 36,013 shares of QXO's stock, amounting to an investment valued at approximately $568,000.

In addition to Stifel's investment, several other institutional investors have also adjusted their holdings in QXO. For instance, Point72 Asset Management L.P. established a new position in QXO worth around $2,912,000 during the same quarter. Other contributors include Hauser Brothers GmbH, which bought shares valued at $1,577,000, and HighTower Advisors LLC, with a new position amounting to $1,492,000. Concentric Capital Strategies LP and Arizona PSPRS Trust also increased their stakes, investing $1,693,000 and $2,099,000, respectively. Currently, hedge funds and institutional investors own approximately 58.68% of QXO's stock.

Insider Transactions

In recent insider activity, Mfn Partners, Lp, a major shareholder, sold 7,000,000 shares of QXO stock on November 6, 2024. The shares were sold at an average price of $15.05, leading to a transaction total of approximately $105,350,000. Following the sale, this major shareholder still holds 46,908,701 shares in QXO, which is valued at about $705,975,950.05. This sale indicates a decrease of 12.98% in their overall position. The details of this transaction were disclosed through a legal filing with the SEC.

Current Stock Performance

On the trading front, QXO shares opened at $15.88 recently. The company has a market capitalization of $6.50 billion. It currently exhibits a P/E ratio of -1.74 and has a beta of 2.32, reflecting its volatility in comparison to the market. The stock's 50-day moving average stands at $16.00, and over the past year, it has experienced a low of $10.61 and a high of $290.00.

About QXO, Inc.

QXO, Inc. operates as a business application and technology consulting firm within North America. The company offers a range of solutions including accounting, business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.

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