QXO, Inc. $QXO Shares Sold by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC trimmed its holdings in QXO, Inc. (NYSE:QXO) by 80.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 400,000 shares of the company’s stock after selling 1,600,000 shares during the quarter. Ghisallo Capital Management LLC owned 0.06% of QXO worth $7,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QXO. Royal Bank of Canada lifted its holdings in shares of QXO by 67.5% in the 1st quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after buying an additional 48,248 shares during the period. AQR Capital Management LLC acquired a new stake in QXO during the first quarter worth about $615,000. Millennium Management LLC grew its holdings in QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after acquiring an additional 20,067 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in QXO by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after acquiring an additional 81,758 shares in the last quarter. Finally, Prospera Financial Services Inc purchased a new position in QXO during the second quarter valued at approximately $597,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Stock Up 3.5%

Shares of QXO opened at $20.18 on Friday. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. QXO, Inc. has a 12 month low of $11.97 and a 12 month high of $27.61. The stock’s 50 day moving average is $23.78 and its two-hundred day moving average is $21.03. The firm has a market cap of $14.30 billion, a P/E ratio of -34.20, a PEG ratio of 3.11 and a beta of 2.51.

QXO (NYSE:QXO) last announced its earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.19 billion. The firm’s revenue for the quarter was up 14725.0% on a year-over-year basis. Analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QXO has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of QXO in a research note on Friday, February 20th. Oppenheimer lifted their target price on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Citigroup decreased their target price on shares of QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Loop Capital began coverage on shares of QXO in a research report on Thursday, December 11th. They set a “buy” rating and a $31.00 price target on the stock. One investment 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’s stock. Based on data from MarketBeat, the company presently 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.