Gainplan LLC Has $1.77 Million Stock Position in QXO, Inc. $QXO

Gainplan LLC lessened its position in shares of QXO, Inc. (NYSE:QXO) by 59.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 102,420 shares of the company’s stock after selling 150,129 shares during the quarter. QXO accounts for about 0.7% of Gainplan LLC’s investment portfolio, making the stock its 21st largest holding. Gainplan LLC’s holdings in QXO were worth $1,770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QXO. Moody National Bank Trust Division lifted its position in QXO by 43.8% during the 2nd quarter. Moody National Bank Trust Division now owns 156,350 shares of the company’s stock valued at $2,702,000 after purchasing an additional 47,600 shares during the period. TTRF Capital Ltd acquired a new position in QXO in the second quarter valued at approximately $2,391,000. Howard Financial Services LTD. acquired a new position in QXO in the second quarter valued at approximately $185,000. Janus Henderson Group PLC boosted its stake in QXO by 3.8% in the first quarter. Janus Henderson Group PLC now owns 269,200 shares of the company’s stock valued at $5,224,000 after acquiring an additional 9,787 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in QXO by 17.2% during the 1st quarter. Arkadios Wealth Advisors now owns 59,040 shares of the company’s stock worth $1,147,000 after acquiring an additional 8,644 shares during the period. 58.68% of the stock is owned by institutional investors.

QXO Stock Up 4.0%

NYSE:QXO opened at $15.95 on Thursday. QXO, Inc. has a 1 year low of $13.18 and a 1 year 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 $16.55 billion, a price-to-earnings ratio of -17.53, a PEG ratio of 2.32 and a beta of 2.28. The stock has a 50-day moving average price of $15.67 and a two-hundred day moving average price of $19.40.

QXO (NYSE:QXO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. The firm’s quarterly revenue was up 12716.3% compared to the same quarter last year. As a group, equities analysts expect that QXO, Inc. will post 0.33 earnings per share for the current year.

Analyst Ratings Changes

QXO has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Wells Fargo & Company set a $18.00 target price on QXO in a report on Tuesday, July 28th. Oppenheimer upped their price target on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Robert W. Baird cut their price target on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. One investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.71.

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.