QXO, Inc. $QXO Shares Acquired by Fishman Jay A Ltd. MI

Fishman Jay A Ltd. MI grew its holdings in QXO, Inc. (NYSE:QXO) by 41.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,216,305 shares of the company’s stock after purchasing an additional 358,465 shares during the period. QXO makes up 2.1% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 14th largest position. Fishman Jay A Ltd. MI owned 0.17% of QXO worth $23,621,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Finepoint Capital LP boosted its stake in QXO by 5.4% during the third quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock worth $424,954,000 after buying an additional 1,142,747 shares during the period. Fred Alger Management LLC raised its stake in shares of QXO by 75.4% in the 4th quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock valued at $307,173,000 after acquiring an additional 6,844,574 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of QXO by 16,117.6% in the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after acquiring an additional 14,644,305 shares during the last quarter. Schf GPE LLC lifted its holdings in shares of QXO by 204.3% in 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, MTCO Ltd. purchased a new position in shares of QXO during the 3rd quarter worth approximately $208,534,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Stock Down 3.5%

QXO stock opened at $15.26 on Wednesday. QXO, Inc. has a 12 month low of $14.75 and a 12 month high of $27.61. The company has a market cap of $11.07 billion, a price-to-earnings ratio of -16.77, a price-to-earnings-growth ratio of 4.05 and a beta of 2.23. The company has a fifty day moving average price of $17.21 and a 200 day moving average price of $20.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47.

QXO (NYSE:QXO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. The business’s revenue was up 12716.3% on a year-over-year basis. Sell-side 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 weighed in on QXO. Citigroup dropped their price objective on QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 15th. KeyCorp decreased their target price on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Oppenheimer lifted their target price on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Stephens cut their price target on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Finally, BNP Paribas Exane began coverage on shares of QXO in a research note on Monday, March 16th. They issued an “outperform” rating and a $30.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.86.

QXO 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.