Y Intercept Hong Kong Ltd Takes $14.47 Million Position in QXO, Inc. $QXO

Y Intercept Hong Kong Ltd bought a new stake in shares of QXO, Inc. (NYSE:QXO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 750,291 shares of the company’s stock, valued at approximately $14,473,000.

Several other large investors also recently modified their holdings of QXO. Vanguard Group Inc. grew its stake in QXO by 17.2% in the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after purchasing an additional 8,131,331 shares in the last quarter. Finepoint Capital LP grew its stake in QXO by 5.4% in the third quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock worth $424,954,000 after purchasing an additional 1,142,747 shares in the last quarter. Baillie Gifford & Co. grew its stake in QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after purchasing an additional 14,644,305 shares in the last quarter. Schf GPE LLC grew its stake in 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 purchasing an additional 8,943,089 shares in the last quarter. Finally, MTCO Ltd. acquired a new position in QXO in the third quarter worth about $208,534,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QXO has been the subject of a number of research reports. Zacks Research upgraded QXO from a “strong sell” rating to a “hold” rating in a research note on Wednesday. BNP Paribas Exane initiated coverage on QXO in a research note on Monday, March 16th. They issued an “outperform” rating and a $30.00 price target for the company. KeyCorp lifted their price target on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Finally, Oppenheimer lifted their price target on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued 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 price target of $31.14.

QXO Stock Performance

QXO opened at $16.60 on Friday. The business’s 50 day moving average is $18.85 and its 200-day moving average is $20.98. The stock has a market cap of $12.04 billion, a PE ratio of -18.25, a price-to-earnings-growth ratio of 4.25 and a beta of 2.30. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. QXO, Inc. has a twelve month low of $14.75 and a twelve month high of $27.61.

QXO (NYSE:QXO) last released its quarterly earnings results 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). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The firm’s revenue was up 12716.3% compared to the same quarter last year. On average, analysts predict that QXO, Inc. will post 0.2 earnings per share for the current 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.