Stifel Financial Corp Enters QXO, Inc. Investment

Stifel Financial Corp has made a new investment during the third quarter by purchasing shares of QXO, Inc. (NASDAQ:QXO – Free Report). According to their latest disclosure with the Securities and Exchange Commission, Stifel acquired 36,013 shares valued at roughly $568,000.

In addition to Stifel's investment, several other institutional investors have also recently adjusted their holdings in QXO. For instance, Point72 Asset Management L.P. acquired a new position in QXO worth approximately $2.91 million during the third quarter. Hauser Brothers GmbH and HighTower Advisors LLC also made new investments in the same quarter, valued at $1.58 million and $1.49 million respectively. Concentric Capital Strategies LP and Arizona PSPRS Trust were other institutional investors who bought new stakes in QXO, with values of $1.69 million and $2.09 million respectively. Currently, institutional investors and hedge funds hold 58.68% of QXO's stock.

Insider Trading Activity

In a significant insider trading event, Mfn Partners, Lp, a major shareholder, sold 7,000,000 shares of QXO stock on Wednesday, November 6th. The shares were sold at an average price of $15.05, totaling approximately $105.35 million. Following this sale, the shareholder's remaining stake stands at 46,908,701 shares, valued at about $706 million. This sale represents a 12.98% decrease in their overall position. Details of this transaction were disclosed in a filing with the SEC.

Current QXO Stock Performance

As of last Friday, QXO stock was priced at $15.88. The company boasts a market capitalization of $6.50 billion, a price-to-earnings (P/E) ratio of -1.74, and a beta of 2.32. The stock's 50-day moving average price is noted at $16.00, while the company has seen a 52-week low of $10.61 and a high of $290.00.

About QXO

QXO, Inc. operates as a business application, technology, and consulting company in North America. The firm specializes in providing a range of solutions including 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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