QXO, Inc. $QXO Shares Acquired by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC grew its holdings in shares of QXO, Inc. (NYSE:QXO) by 137.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 802,800 shares of the company’s stock after buying an additional 464,400 shares during the period. QXO accounts for about 1.1% of Zweig DiMenna Associates LLC’s holdings, making the stock its 25th largest holding. Zweig DiMenna Associates LLC owned about 0.12% of QXO worth $15,301,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in QXO. SG Americas Securities LLC grew its position in QXO by 5.0% during the 3rd quarter. SG Americas Securities LLC now owns 17,499 shares of the company’s stock worth $334,000 after purchasing an additional 832 shares during the last quarter. American Capital Advisory LLC lifted its position 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 valued at $25,000 after acquiring an additional 841 shares in the last quarter. Future Financial Wealth Managment LLC raised its holdings in QXO by 14.3% in the 3rd quarter. Future Financial Wealth Managment LLC now owns 8,000 shares of the company’s stock valued at $152,000 after acquiring an additional 1,000 shares during the last quarter. AlphaQuest LLC grew its holdings in QXO by 22.9% in the second quarter. AlphaQuest LLC now owns 5,907 shares of the company’s stock valued at $127,000 after purchasing an additional 1,099 shares during the period. Finally, Allworth Financial LP increased 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 purchasing an additional 1,149 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

QXO has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Loop Capital began coverage on shares of QXO in a research note on Thursday, December 11th. They set a “buy” rating and a $31.00 target price for the company. Benchmark reiterated a “buy” rating on shares of QXO in a research report on Friday, January 16th. Oppenheimer boosted their target price on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Finally, Citigroup lowered their price target on QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.43.

QXO Trading Up 4.5%

QXO stock opened at $27.07 on Tuesday. QXO, Inc. has a 52 week low of $11.85 and a 52 week high of $27.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. The firm has a market capitalization of $18.26 billion, a price-to-earnings ratio of -61.53, a P/E/G ratio of 3.38 and a beta of 2.55. The company has a 50 day moving average price of $22.94 and a 200 day moving average price of $20.59.

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.