Agman Capital LLC Makes New Investment in QXO, Inc. $QXO

Agman Capital LLC acquired a new position in QXO, Inc. (NYSE:QXO) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 125,311 shares of the company’s stock, valued at approximately $2,417,000. QXO accounts for 2.1% of Agman Capital LLC’s portfolio, making the stock its 19th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Fred Alger Management LLC acquired a new position in QXO in the third quarter worth $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in QXO by 748.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after purchasing an additional 774,138 shares during the period. Baillie Gifford & Co. boosted its holdings in QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after purchasing an additional 14,644,305 shares during the period. JNBA Financial Advisors acquired a new position in QXO in the fourth quarter worth $992,000. Finally, Neuberger Berman Group LLC boosted its holdings in QXO by 36.0% in the third quarter. Neuberger Berman Group LLC now owns 1,108,631 shares of the company’s stock worth $21,131,000 after purchasing an additional 293,351 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Price Performance

Shares of NYSE QXO opened at $16.60 on Friday. QXO, Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $27.61. The firm’s 50-day simple moving average is $18.85 and its 200 day simple moving average is $20.98. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The stock has a market cap of $12.04 billion, a P/E ratio of -18.25, a P/E/G ratio of 4.26 and a beta of 2.30.

QXO (NYSE:QXO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.73 billion. The business’s quarterly revenue was up 12716.3% compared to the same quarter last year. Equities analysts expect that QXO, Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. BNP Paribas Exane assumed coverage on shares of QXO in a report on Monday, March 16th. They issued an “outperform” rating and a $30.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Stephens cut their target price on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Finally, Royal Bank Of Canada cut their target price on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.14.

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.