Maridea Wealth Management LLC Purchases New Shares in QXO, Inc. $QXO

Maridea Wealth Management LLC acquired a new position in shares of QXO, Inc. (NYSE:QXO) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 87,495 shares of the company’s stock, valued at approximately $1,662,000.

A number of other institutional investors and hedge funds have also made changes to their positions in QXO. Vanguard Group Inc. boosted its stake in shares of QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after buying an additional 8,131,331 shares during the period. Affinity Partners GP LP lifted its position in QXO by 99.1% during the 2nd 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 period. Alpha Wave Global LP purchased a new position in shares of QXO in the 2nd quarter valued at approximately $525,366,000. Schf GPE LLC grew its stake in shares of QXO by 204.3% in the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in shares of QXO in the second quarter valued at approximately $178,836,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Trading Down 0.9%

Shares of QXO opened at $26.83 on Wednesday. QXO, Inc. has a twelve month low of $11.85 and a twelve month high of $27.55. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $18.10 billion, a P/E ratio of -60.98, a PEG ratio of 3.38 and a beta of 2.55. The firm’s 50-day moving average is $23.06 and its two-hundred day moving average is $20.64.

Analysts Set New Price Targets

QXO has been the subject of several analyst reports. Vertical Research assumed coverage on QXO in a research note on Tuesday, October 21st. They set a “buy” rating and a $30.00 price target for the company. Benchmark restated a “buy” rating on shares of QXO in a research note on Friday, January 16th. Citigroup lowered their target price on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Truist Financial cut their price target on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, December 19th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.