Quadrature Capital Ltd Acquires 195,018 Shares of QXO, Inc. $QXO

Quadrature Capital Ltd grew its holdings in shares of QXO, Inc. (NYSE:QXO) by 192.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 296,201 shares of the company’s stock after acquiring an additional 195,018 shares during the period. Quadrature Capital Ltd owned about 0.05% of QXO worth $6,382,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QXO. Cherry Creek Investment Advisors Inc. lifted its holdings in QXO by 48.5% during the 2nd quarter. Cherry Creek Investment Advisors Inc. now owns 69,780 shares of the company’s stock worth $1,503,000 after buying an additional 22,800 shares during the period. Amundi increased its stake in shares of QXO by 26.4% in the first quarter. Amundi now owns 715,087 shares of the company’s stock valued at $9,861,000 after buying an additional 149,504 shares during the period. Vanguard Group Inc. raised its position in shares of QXO by 91.0% during the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock worth $1,016,525,000 after acquiring an additional 22,484,977 shares during the last quarter. Brown Miller Wealth Management LLC acquired a new position in shares of QXO in the second quarter worth approximately $592,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in QXO by 530.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 376,483 shares of the company’s stock valued at $8,109,000 after acquiring an additional 316,754 shares during the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Up 2.5%

QXO stock opened at $18.72 on Friday. The company has a market capitalization of $12.62 billion, a PE ratio of -89.14, a PEG ratio of 2.58 and a beta of 2.26. QXO, Inc. has a 12-month low of $11.85 and a 12-month high of $24.69. The firm’s fifty day moving average is $18.36 and its 200 day moving average is $19.55. The company has a quick ratio of 2.15, a current ratio of 3.00 and a debt-to-equity ratio of 0.38.

QXO (NYSE:QXO) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The business’s quarterly revenue was up 20726.7% compared to the same quarter last year. As a group, sell-side analysts predict that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on QXO shares. Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a report on Wednesday, November 19th. Stephens assumed coverage on shares of QXO in a research report on Wednesday, August 13th. They set an “overweight” rating and a $29.00 price objective for the company. KeyCorp set a $28.00 target price on shares of QXO in a research note on Wednesday, October 1st. Wells Fargo & Company assumed coverage on shares of QXO in a report on Tuesday, August 5th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Morgan Stanley assumed coverage on QXO in a report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.85.

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.