Cantor Fitzgerald L. P. Has $280,000 Stock Position in QXO, Inc. $QXO

Cantor Fitzgerald L. P. lowered its stake in QXO, Inc. (NYSE:QXO) by 79.3% during the third quarter, HoldingsChannel reports. The firm owned 14,677 shares of the company’s stock after selling 56,251 shares during the period. Cantor Fitzgerald L. P.’s holdings in QXO were worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alpha Wave Global LP purchased a new stake in QXO during the second quarter valued at about $525,366,000. Vanguard Group Inc. increased its position in shares of QXO by 91.0% in the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock worth $1,016,525,000 after acquiring an additional 22,484,977 shares in the last quarter. Affinity Partners GP LP increased its position in shares of QXO by 99.1% in the second quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock worth $703,745,000 after acquiring an additional 16,260,163 shares in the last quarter. MTCO Ltd. acquired a new stake in shares of QXO during the third quarter valued at approximately $208,534,000. Finally, Fred Alger Management LLC acquired a new stake in shares of QXO during the third quarter valued at approximately $173,053,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Performance

QXO stock opened at $20.28 on Friday. The firm has a 50 day simple moving average of $23.51 and a 200 day simple moving average of $21.03. QXO, Inc. has a 52 week low of $11.97 and a 52 week high of $27.61. The stock has a market cap of $14.37 billion, a P/E ratio of -34.36, a P/E/G ratio of 3.21 and a beta of 2.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58.

QXO (NYSE:QXO) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The business’s revenue was up 14725.0% on a year-over-year basis. Research analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on QXO shares. Truist Financial decreased their price objective on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, December 19th. BNP Paribas Exane started coverage on shares of QXO in a research note on Monday. They set an “outperform” rating and a $30.00 target price on the stock. Citigroup reduced their target price on QXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Benchmark reaffirmed a “buy” rating on shares of QXO in a research report on Friday, February 20th. Finally, William Blair reiterated an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.27.

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.