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

Stifel Financial Corp purchased a new stake in shares of QXO, Inc. (NASDAQ:QXO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,013 shares of the company’s stock, valued at approximately $568,000.

Several other institutional investors also recently modified their holdings of QXO. Point72 Asset Management L.P. bought a new position in QXO during the third quarter valued at approximately $2,912,000. Hauser Brothers GmbH bought a new position in shares of QXO during the 3rd quarter valued at $1,577,000. HighTower Advisors LLC purchased a new position in shares of QXO in the 3rd quarter worth $1,492,000. Concentric Capital Strategies LP bought a new stake in shares of QXO in the third quarter worth $1,693,000. Finally, Arizona PSPRS Trust bought a new stake in shares of QXO in the third quarter worth $2,099,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total transaction of $105,350,000.00. Following the transaction, the insider now owns 46,908,701 shares in the company, valued at $705,975,950.05. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 51.30% of the company’s stock.

QXO Stock Performance

QXO stock opened at $15.88 on Friday. The company has a market capitalization of $6.50 billion, a P/E ratio of -1.74 and a beta of 2.32. The firm has a 50-day moving average price of $16.00. QXO, Inc. has a fifty-two week low of $10.61 and a fifty-two week high of $290.00.

About QXO

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.