QXO, Inc. $QXO Shares Purchased by FNY Investment Advisers LLC

FNY Investment Advisers LLC increased its holdings in shares of QXO, Inc. (NYSE:QXO) by 41,767.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,615 shares of the company’s stock after buying an additional 58,475 shares during the period. FNY Investment Advisers LLC’s holdings in QXO were worth $1,012,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its stake in shares of QXO by 16,117.6% in the fourth 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 grew 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 purchasing an additional 8,943,089 shares in the last quarter. Norges Bank acquired a new position in QXO during the 4th quarter worth $140,421,000. Fred Alger Management LLC increased its holdings in QXO by 75.4% during the 4th quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after purchasing an additional 6,844,574 shares during the period. Finally, Sound Shore Management Inc. CT purchased a new stake in QXO during the 4th quarter worth about $77,199,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Price Performance

Shares of NYSE QXO opened at $15.23 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. QXO, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $27.61. The firm has a market capitalization of $15.80 billion, a PE ratio of -16.73, a price-to-earnings-growth ratio of 2.41 and a beta of 2.28. The stock’s 50-day simple moving average is $15.62 and its 200-day simple moving average is $19.34.

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 business 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 firm’s revenue for the quarter was up 12716.3% compared to the same quarter last year. As a group, equities research analysts forecast that QXO, Inc. will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on QXO shares. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Wells Fargo & Company set a $18.00 target price on shares of QXO in a research note on Tuesday, July 28th. KeyCorp reduced their target price on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Citigroup dropped their price objective on shares of QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.71.

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.