Engle Capital Management L.P. Sells 537,954 Shares of QXO, Inc. $QXO

Engle Capital Management L.P. trimmed its holdings in QXO, Inc. (NYSE:QXO) by 60.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 358,000 shares of the company’s stock after selling 537,954 shares during the quarter. QXO comprises approximately 2.7% of Engle Capital Management L.P.’s portfolio, making the stock its 14th biggest position. Engle Capital Management L.P.’s holdings in QXO were worth $6,906,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Arax Advisory Partners bought a new stake in QXO in the 4th quarter worth about $25,000. Russell Investments Group Ltd. bought a new stake in QXO in the 2nd quarter worth approximately $30,000. LRI Investments LLC grew its position in QXO by 129.1% in the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after purchasing an additional 835 shares during the period. Newbridge Financial Services Group Inc. grew its position in QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares during the period. Finally, Allworth Financial LP grew its position in QXO by 66.9% in the 3rd quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock worth $39,000 after purchasing an additional 813 shares during the period. 58.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

QXO has been the topic of a number of research reports. Zacks Research upgraded QXO from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Robert W. Baird dropped their price target on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Stephens dropped their price target on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Finally, Royal Bank Of Canada dropped their price target 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 equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.14.

QXO Stock Down 2.5%

QXO opened at $16.58 on Thursday. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. QXO, Inc. has a 1-year low of $14.75 and a 1-year high of $27.61. The company has a market capitalization of $12.03 billion, a PE ratio of -18.22, a PEG ratio of 4.36 and a beta of 2.30. The firm’s 50 day simple moving average is $18.71 and its two-hundred day simple moving average is $20.99.

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

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.