Fishman Jay A Ltd. MI Buys Shares of 547,940 QXO, Inc. $QXO

Fishman Jay A Ltd. MI acquired a new stake in QXO, Inc. (NYSE:QXO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 547,940 shares of the company’s stock, valued at approximately $10,444,000. QXO accounts for about 0.9% of Fishman Jay A Ltd. MI’s holdings, making the stock its 26th biggest holding.

Several other hedge funds have also added to or reduced their stakes in QXO. Farther Finance Advisors LLC bought a new stake in QXO during the 2nd quarter worth approximately $25,000. American Capital Advisory LLC grew its stake in shares of QXO by 258.0% in the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after purchasing an additional 841 shares during the last quarter. Allworth Financial LP increased its holdings in QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after purchasing an additional 1,149 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in QXO during the 2nd quarter worth $28,000. Finally, Bogart Wealth LLC acquired a new position in QXO during the 3rd quarter worth about $25,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Trading Down 9.4%

NYSE QXO opened at $20.97 on Friday. The business’s fifty day moving average is $22.19 and its 200-day moving average is $20.42. QXO, Inc. has a one year low of $11.85 and a one year high of $26.24. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of -47.65, a PEG ratio of 2.84 and a beta of 2.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.78 billion. The firm’s quarterly revenue was up 20726.7% on a year-over-year basis. Equities research analysts predict that QXO, Inc. will post -0.13 EPS for the current year.

Analyst Ratings Changes

QXO has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Vertical Research assumed coverage on QXO in a research report on Tuesday, October 21st. They set a “buy” rating and a $30.00 target price on the stock. Oppenheimer lifted their target price on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Loop Capital initiated coverage on shares of QXO in a research report on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective for the company. Finally, Citigroup dropped their price objective on QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, QXO has an average rating of “Moderate Buy” and a consensus target price of $32.43.

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.