Maridea Wealth Management LLC Invests $1.66 Million in QXO, Inc. $QXO

Maridea Wealth Management LLC acquired a new stake in QXO, Inc. (NYSE:QXO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 87,495 shares of the company’s stock, valued at approximately $1,662,000.

Several other hedge funds also recently added to or reduced their stakes in QXO. Vanguard Group Inc. lifted its stake in shares of QXO by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. Affinity Partners GP LP lifted its position in QXO by 99.1% in the second quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock valued at $703,745,000 after buying an additional 16,260,163 shares during the last quarter. Alpha Wave Global LP purchased a new position in QXO during the second quarter worth about $525,366,000. Schf GPE LLC increased its position in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after acquiring an additional 8,943,089 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in shares of QXO in the 2nd quarter valued at approximately $178,836,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Stock Performance

Shares of QXO stock opened at $26.83 on Wednesday. QXO, Inc. has a 12 month low of $11.85 and a 12 month high of $27.55. The company has a market cap of $18.10 billion, a P/E ratio of -60.98, a PEG ratio of 3.38 and a beta of 2.55. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $23.06 and a 200 day moving average price of $20.64.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QXO. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a research report on Friday, January 9th. Oppenheimer raised their price target on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. 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. Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, January 16th. Finally, Truist Financial lowered their target price on QXO from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and an average target price of $32.43.

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.