32,832 Shares in QXO, Inc. $QXO Bought by Cornerstone Advisory LLC

Cornerstone Advisory LLC bought a new position in shares of QXO, Inc. (NYSE:QXO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,832 shares of the company’s stock, valued at approximately $626,000.

Several other institutional investors and hedge funds have also made changes to their positions in QXO. Alpha Wave Global LP purchased a new stake in QXO during the 2nd quarter worth $525,366,000. Vanguard Group Inc. increased its position in shares of QXO by 91.0% during the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock worth $1,016,525,000 after acquiring an additional 22,484,977 shares during the last quarter. Affinity Partners GP LP increased its position in shares of QXO by 99.1% during the second quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock worth $703,745,000 after acquiring an additional 16,260,163 shares during the last quarter. Schf GPE LLC lifted 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 worth $286,901,000 after acquiring an additional 8,943,089 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in QXO during 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 Trading Down 0.9%

NYSE QXO opened at $26.83 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. QXO, Inc. has a one year low of $11.85 and a one year high of $27.55. The company has a 50-day simple moving average of $23.06 and a 200-day simple moving average of $20.64. The firm has a market capitalization of $18.10 billion, a PE ratio of -60.98, a price-to-earnings-growth ratio of 3.38 and a beta of 2.55.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on QXO shares. Truist Financial cut their target price on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Royal Bank Of Canada set a $30.00 price target on shares of QXO in a research note on Friday, January 9th. Vertical Research began coverage on shares of QXO in a research note on Tuesday, October 21st. They set a “buy” rating and a $30.00 price objective on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Finally, William Blair restated an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.43.

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.