Odyssean LLC Purchases 66,136 Shares of QXO, Inc. $QXO

Odyssean LLC boosted its stake in QXO, Inc. (NYSE:QXO) by 261.1% during the 2nd quarter, Holdings Channel reports. The firm owned 91,463 shares of the company’s stock after buying an additional 66,136 shares during the quarter. Odyssean LLC’s holdings in QXO were worth $1,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Carnegie Investment Counsel grew its stake in QXO by 38.6% during the 1st quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock worth $6,013,000 after buying an additional 86,265 shares during the last quarter. CI Investments Inc. raised its stake in shares of QXO by 4.1% in the first quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after purchasing an additional 102,838 shares during the last quarter. Hudson Value Partners LLC lifted its holdings in shares of QXO by 87.6% during the second quarter. Hudson Value Partners LLC now owns 215,998 shares of the company’s stock worth $3,732,000 after purchasing an additional 100,856 shares during the period. Griffin Asset Management Inc. acquired a new stake in shares of QXO during the first quarter worth about $2,057,000. Finally, Sequoia Financial Advisors LLC purchased a new position in QXO during the 1st quarter worth approximately $1,610,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Down 0.3%

Shares of NYSE:QXO opened at $13.42 on Friday. The company has a quick ratio of 3.29, a current ratio of 4.11 and a debt-to-equity ratio of 0.66. QXO, Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $27.61. The firm’s 50-day simple moving average is $14.53 and its 200-day simple moving average is $17.96. The company has a market cap of $13.92 billion, a price-to-earnings ratio of -14.91, a PEG ratio of 2.32 and a beta of 2.32.

QXO (NYSE:QXO) last posted its earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%.The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. As a group, equities research analysts predict that QXO, Inc. will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QXO shares. Zacks Research raised QXO from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Citigroup dropped their price target on QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Royal Bank Of Canada restated an “outperform” rating and issued a $27.00 price objective on shares of QXO in a report on Friday, July 10th. Finally, Morgan Stanley began coverage on QXO in a research report on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, QXO currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

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.