Virtu Financial LLC Purchases New Position in QXO, Inc. $QXO

Virtu Financial LLC acquired a new stake in QXO, Inc. (NYSE:QXO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 42,551 shares of the company’s stock, valued at approximately $821,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arax Advisory Partners purchased a new stake in shares of QXO in the fourth quarter worth about $25,000. Russell Investments Group Ltd. purchased a new stake in shares of QXO during the 2nd quarter valued at about $30,000. LRI Investments LLC raised its holdings in shares of QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after buying an additional 835 shares during the period. Newbridge Financial Services Group Inc. lifted its position in QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in QXO by 42.4% during the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock worth $32,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Trading Up 0.0%

Shares of QXO opened at $17.77 on Monday. The company has a market capitalization of $12.89 billion, a P/E ratio of -19.53, a P/E/G ratio of 4.55 and a beta of 2.30. QXO, Inc. has a one year low of $14.75 and a one year high of $27.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The stock has a 50-day moving average price of $18.64 and a 200 day moving average price of $20.97.

QXO (NYSE:QXO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. The business’s revenue was up 12716.3% on a year-over-year basis. Sell-side analysts forecast that QXO, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BNP Paribas Exane began coverage on QXO in a report on Monday, March 16th. They issued an “outperform” rating and a $30.00 price target for the company. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Citigroup decreased their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, KeyCorp raised their price target on shares of QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, QXO presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.14.

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. 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.