SG Americas Securities LLC Buys 79,222 Shares of QXO, Inc. $QXO

SG Americas Securities LLC increased its stake in shares of QXO, Inc. (NYSE:QXO) by 891.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,109 shares of the company’s stock after purchasing an additional 79,222 shares during the quarter. SG Americas Securities LLC’s holdings in QXO were worth $1,711,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in QXO. Baillie Gifford & Co. grew its position in shares of QXO by 16,117.6% during the 4th 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 during the period. MTCO Ltd. acquired a new stake in shares of QXO in the 3rd quarter valued at approximately $208,534,000. Fred Alger Management LLC bought a new position in QXO during the 3rd quarter worth approximately $173,053,000. Schf GPE LLC boosted its stake in QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after acquiring an additional 8,943,089 shares during the last quarter. Finally, Norges Bank acquired a new position in QXO during the fourth quarter valued at approximately $140,421,000. Institutional investors own 58.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on QXO. Zacks Research raised shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Stephens lowered their target price on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. KeyCorp lowered their target price on QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Oppenheimer lifted their price objective on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, QXO presently has an average rating of “Moderate Buy” and an average target price of $30.86.

QXO Stock Performance

QXO opened at $16.23 on Friday. The business has a 50 day moving average of $17.55 and a 200-day moving average of $20.73. QXO, Inc. has a 12-month low of $14.75 and a 12-month high of $27.61. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of -17.84, a PEG ratio of 4.24 and a beta of 2.23. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company’s quarterly revenue was up 12716.3% compared to the same quarter last year. On average, equities research analysts expect that QXO, Inc. will post 0.2 earnings per share for the current year.

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.