QXO, Inc. $QXO Stake Reduced by Deltec Asset Management LLC

Deltec Asset Management LLC trimmed its holdings in QXO, Inc. (NYSE:QXO) by 72.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,310 shares of the company’s stock after selling 37,851 shares during the quarter. Deltec Asset Management LLC’s holdings in QXO were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Finepoint Capital LP raised its holdings in shares of QXO by 5.4% in the 3rd quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock worth $424,954,000 after purchasing an additional 1,142,747 shares in the last quarter. Fred Alger Management LLC boosted its holdings in QXO by 75.4% during the fourth quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after buying an additional 6,844,574 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after buying an additional 14,644,305 shares in the last quarter. Schf GPE LLC grew its position in QXO by 204.3% in the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after buying an additional 8,943,089 shares during the last quarter. Finally, MTCO Ltd. bought a new position in shares of QXO in the third quarter valued at $208,534,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Down 4.5%

Shares of NYSE:QXO opened at $16.51 on Thursday. The firm has a 50 day simple moving average of $17.67 and a 200 day simple moving average of $20.77. QXO, Inc. has a 52 week low of $14.75 and a 52 week high of $27.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The company has a market cap of $11.97 billion, a PE ratio of -18.14, a price-to-earnings-growth ratio of 4.43 and a beta of 2.23.

QXO (NYSE:QXO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. The company’s revenue for the quarter was up 12716.3% on a year-over-year basis. As a group, research analysts expect that QXO, Inc. will post 0.2 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on QXO. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Robert W. Baird decreased their target price on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. KeyCorp cut their target price on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday. Stephens reduced their target price on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.86.

QXO Company Profile

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.