Gilder Gagnon Howe & Co. LLC Acquires New Position in QXO, Inc. $QXO

Gilder Gagnon Howe & Co. LLC bought a new position in shares of QXO, Inc. (NYSE:QXO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,226,993 shares of the company’s stock, valued at approximately $112,589,000. QXO comprises about 1.2% of Gilder Gagnon Howe & Co. LLC’s investment portfolio, making the stock its 20th largest holding. Gilder Gagnon Howe & Co. LLC owned approximately 0.90% of QXO at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of QXO. American Capital Advisory LLC raised its holdings in shares of QXO by 258.0% in the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after buying an additional 841 shares during the last quarter. AlphaQuest LLC increased its position in shares of QXO by 22.9% in the 2nd quarter. AlphaQuest LLC now owns 5,907 shares of the company’s stock valued at $127,000 after acquiring an additional 1,099 shares during the period. Sheets Smith Wealth Management increased its position in shares of QXO by 6.4% in the 2nd quarter. Sheets Smith Wealth Management now owns 18,410 shares of the company’s stock valued at $397,000 after acquiring an additional 1,112 shares during the period. Farther Finance Advisors LLC purchased a new position in QXO in the 2nd quarter worth $25,000. Finally, Allworth Financial LP lifted its position in QXO by 1,740.9% during the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after acquiring an additional 1,149 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Trading Down 3.5%

Shares of NYSE:QXO opened at $21.34 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37. QXO, Inc. has a 12-month low of $11.85 and a 12-month high of $24.69. The business has a 50 day moving average of $18.63 and a two-hundred day moving average of $19.82. The company has a market capitalization of $14.39 billion, a PE ratio of -48.50, a PEG ratio of 3.37 and a beta of 2.42.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.78 billion. The business’s revenue was up 20726.7% compared to the same quarter last year. As a group, analysts forecast that QXO, Inc. will post -0.13 EPS for the current year.

Analyst Ratings Changes

QXO has been the topic of a number of research reports. Vertical Research initiated coverage on QXO in a report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price objective on the stock. KeyCorp set a $28.00 target price on QXO in a research report on Wednesday, October 1st. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Monday. Loop Capital started coverage on shares of QXO in a research note on Thursday. They set a “buy” rating and a $31.00 price objective for the company. Finally, Benchmark upgraded shares of QXO to a “strong-buy” rating in a research note on Monday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and an average target price of $32.71.

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.