Odyssean LLC Has $1.58 Million Stock Position in QXO, Inc. $QXO

Odyssean LLC raised its holdings in QXO, Inc. (NYSE:QXO) by 261.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,463 shares of the company’s stock after purchasing an additional 66,136 shares during the quarter. Odyssean LLC’s holdings in QXO were worth $1,580,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fred Alger Management LLC boosted its stake in QXO by 75.4% in the fourth quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock valued at $307,173,000 after buying an additional 6,844,574 shares in the last quarter. Schf GPE LLC boosted its holdings in 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 acquiring an additional 8,943,089 shares during the last quarter. Cercano Management LLC increased its position in shares of QXO by 2.4% during the fourth quarter. Cercano Management LLC now owns 10,815,832 shares of the company’s stock worth $208,637,000 after buying an additional 255,366 shares during the period. Consulta Ltd lifted its stake in shares of QXO by 33.3% in 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 during the period. Finally, Geode Capital Management LLC lifted its position in shares of QXO by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 8,777,960 shares of the company’s stock valued at $169,359,000 after acquiring an additional 61,120 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

QXO has been the subject of a number of research reports. Robert W. Baird reduced their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Citigroup dropped their target price on shares of QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Wells Fargo & Company set a $18.00 price objective on QXO in a research report on Tuesday, July 28th. Finally, Morgan Stanley initiated coverage on shares of QXO in a report on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

QXO Trading Down 0.3%

Shares of QXO stock opened at $13.42 on Friday. The company’s 50-day moving average price is $14.53 and its 200-day moving average price is $17.96. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. QXO, Inc. has a 12-month low of $12.80 and a 12-month high of $27.61. The company has a market cap of $13.92 billion, a price-to-earnings ratio of -14.91, a PEG ratio of 2.32 and a beta of 2.32.

QXO (NYSE:QXO) last announced its earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. On average, equities analysts expect that QXO, Inc. will post 0.29 earnings per share for the current fiscal year.

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.