Sycale Advisors NY LLC Buys 332,757 Shares of QXO, Inc. $QXO

Sycale Advisors NY LLC boosted its stake in QXO, Inc. (NYSE:QXO) by 113.6% in the first quarter, Holdings Channel reports. The fund owned 625,757 shares of the company’s stock after buying an additional 332,757 shares during the quarter. QXO makes up about 6.1% of Sycale Advisors NY LLC’s holdings, making the stock its 10th biggest holding. Sycale Advisors NY LLC’s holdings in QXO were worth $12,152,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fred Alger Management LLC raised its stake in shares of QXO by 75.4% during the fourth quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock valued at $307,173,000 after purchasing an additional 6,844,574 shares during the period. Baillie Gifford & Co. boosted its stake in shares of QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after purchasing an additional 14,644,305 shares during the period. Schf GPE LLC boosted its stake in shares of QXO by 204.3% in the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares during the period. Cercano Management LLC boosted its stake in shares of QXO by 2.4% in the fourth quarter. Cercano Management LLC now owns 10,815,832 shares of the company’s stock valued at $208,637,000 after purchasing an additional 255,366 shares during the period. Finally, Consulta Ltd grew its holdings in QXO by 33.3% during the 4th quarter. Consulta Ltd now owns 10,000,000 shares of the company’s stock valued at $192,900,000 after purchasing an additional 2,500,000 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. KeyCorp dropped their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $27.00 price objective on shares of QXO in a research report on Friday, July 10th. Citigroup lowered their target price on QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Zacks Research lowered QXO from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.57.

QXO Stock Performance

QXO stock opened at $13.88 on Thursday. QXO, Inc. has a 52 week low of $13.37 and a 52 week high of $27.61. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The stock has a market cap of $10.07 billion, a P/E ratio of -15.26, a price-to-earnings-growth ratio of 3.57 and a beta of 2.23. The stock has a 50 day moving average of $16.22 and a 200-day moving average of $20.10.

QXO (NYSE:QXO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business’s revenue was up 12716.3% compared to the same quarter last year. On average, analysts expect that QXO, Inc. will post 0.2 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.