Lombard Odier Asset Management Europe Ltd Sells 118,474 Shares of QXO, Inc. $QXO

Lombard Odier Asset Management Europe Ltd cut its holdings in shares of QXO, Inc. (NYSE:QXO) by 13.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 733,928 shares of the company’s stock after selling 118,474 shares during the period. Lombard Odier Asset Management Europe Ltd owned 0.10% of QXO worth $14,253,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position in QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after acquiring an additional 14,644,305 shares in the last quarter. Schf GPE LLC boosted its position 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 purchasing an additional 8,943,089 shares in the last quarter. Norges Bank purchased a new position in QXO during the 4th quarter worth $140,421,000. Fred Alger Management LLC increased its position in QXO by 75.4% during the 4th quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock valued at $307,173,000 after buying an additional 6,844,574 shares in the last quarter. Finally, Sound Shore Management Inc. CT acquired a new position in QXO during the 4th quarter valued at about $77,199,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Up 0.3%

Shares of QXO opened at $13.34 on Monday. The stock’s 50-day moving average price is $15.79 and its 200-day moving average price is $19.61. 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 company has a market capitalization of $13.84 billion, a price-to-earnings ratio of -14.66, a PEG ratio of 2.38 and a beta of 2.28. QXO, Inc. has a 52 week low of $13.18 and a 52 week high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. QXO’s revenue was up 12716.3% compared to the same quarter last year. On average, sell-side analysts predict that QXO, Inc. will post 0.28 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on QXO shares. Oppenheimer increased their price objective on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Robert W. Baird cut their target price on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, KeyCorp dropped their price target on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.71.

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.