230,000 Shares in QXO, Inc. $QXO Acquired by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft purchased a new position in QXO, Inc. (NYSE:QXO) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 230,000 shares of the company’s stock, valued at approximately $4,384,000.

A number of other institutional investors and hedge funds also recently modified their holdings of QXO. American Capital Advisory LLC boosted its stake in shares of QXO by 258.0% during the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after acquiring an additional 841 shares in the last quarter. Bogart Wealth LLC purchased a new stake in shares of QXO during the third quarter valued at $25,000. Allworth Financial LP boosted its position in shares of QXO by 1,740.9% in the 2nd 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. acquired a new position in shares of QXO in the 2nd quarter valued at $28,000. Finally, Russell Investments Group Ltd. purchased a new position in QXO in the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Performance

Shares of QXO opened at $23.20 on Wednesday. The company has a market capitalization of $15.65 billion, a PE ratio of -52.73, a PEG ratio of 2.87 and a beta of 2.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. The company’s 50 day moving average price is $22.45 and its 200 day moving average price is $20.42. QXO, Inc. has a 52 week low of $11.85 and a 52 week high of $26.24.

Analyst Upgrades and Downgrades

A number of research firms have commented on QXO. Oppenheimer upped their price objective on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. William Blair restated an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Citigroup reduced their price target on shares of QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. Finally, Vertical Research initiated coverage on shares of QXO in a research note on Tuesday, October 21st. They set a “buy” rating and a $30.00 target price on the stock. One 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 given a Sell rating to the company. According to data from MarketBeat.com, QXO presently has an average rating of “Moderate Buy” and an average target price of $32.43.

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.