Tsai Capital Corp Purchases 114,342 Shares of QXO, Inc. $QXO

Tsai Capital Corp boosted its position in shares of QXO, Inc. (NYSE:QXO) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,326,083 shares of the company’s stock after buying an additional 114,342 shares during the quarter. QXO accounts for approximately 17.6% of Tsai Capital Corp’s investment portfolio, making the stock its 2nd largest position. Tsai Capital Corp owned approximately 0.20% of QXO worth $25,275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of QXO. Finepoint Capital LP lifted its stake in QXO by 5.4% during the third quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock valued at $424,954,000 after purchasing an additional 1,142,747 shares during the last quarter. Fieldview Capital Management LLC bought a new stake in shares of QXO during the 3rd quarter worth $259,000. Swiss National Bank lifted its holdings in shares of QXO by 1.5% during the third quarter. Swiss National Bank now owns 1,039,800 shares of the company’s stock valued at $19,819,000 after purchasing an additional 15,200 shares during the last quarter. Russell Investments Group Ltd. increased its stake in QXO by 7,182.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 100,132 shares of the company’s stock worth $1,909,000 after purchasing an additional 98,757 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in QXO during the third quarter valued at about $1,053,000. 58.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QXO. Truist Financial cut their target price on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Loop Capital began coverage on shares of QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price target on the stock. Royal Bank Of Canada set a $30.00 target price on QXO in a research note on Friday, January 9th. Wall Street Zen downgraded QXO from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.43.

QXO Price Performance

Shares of QXO stock opened at $21.72 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58. The firm’s 50-day simple moving average is $23.72 and its 200-day simple moving average is $21.04. The firm has a market cap of $15.39 billion, a P/E ratio of -36.81, a price-to-earnings-growth ratio of 2.97 and a beta of 2.51. QXO, Inc. has a twelve month low of $11.97 and a twelve month high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. QXO’s revenue was up 14725.0% compared to the same quarter last year. As a group, research analysts expect that QXO, Inc. will post -0.13 EPS for the current fiscal year.

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.